First Emart Traders to open in Seoul

Date : 01 March 2019

South Korean retail giant Shinsegae is to open a new Emart Traders store in Seoul this month, which will be its first branch in the capital. 

High expectation of the new branch

This first Emart Traders in Seoul will be located in Wolgye-dong, Nowon District. It will be in the parking lot of Emart’s Wolgye store, with 45,302 square meters of floor area.

The first Seoul branch is expected to achieve an annual sales revenue of 140 billion won ($12.6 million). Packaged instant foods and fresh products will be offered at prices that are 50% lower than average department store prices.

Similar to Costco but different

Emart Trader is similar to the US giant Costco in the sense that both are warehouse style supermarkets. The latter also has stores in South Korea. Unlike Costco, Emart Traders do not require customers to sign up for a membership and pay a compulsory annual fee of 30,000 and are more focused on local Korean products with less imports.

Since its launch in 2010, there are currently 15 Emart Traders nationwide. The company has plan to stretch the number to 18 by end of 2019.

 

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