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Shinsegae Group vice chairman Chung Yong-Jin has provided more details on its plans to open PK Market, an upscale version of Emart, in Los Angeles.
The announcement comes as Emart looks to expand its global business, opening stores in Vietnam, Mongolia and Cambodia. Vice chairman Chung said that opening stores in Vietnam has been slow due to tight regulations. The retailer is now looking to focus on more developed markets such as the US.
Different to Emart, PK Market will mainly stock premium products. The store in Los Angeles is to introduce Asian products to American shoppers in old-fashioned market ambience that reminds them of the 1950’s and 1960’s-style traditional markets. Products will range from Korean cuisine to Japanese, Chinese, Indonesian and Thai dishes.
The PK Market store will be at 712 Olive Street in downtown Los Angeles. Shinsegae will lease the first three floors of the building. The first two floors will be retail space, whilst the third floor will be used for offices. This will put PK Market in direct competition with Whole Foods Market, which has a nearby market that is only one block away at the corner of 8th Street and South Grand Avenue. “…the location will be next to Whole Foods Market to attract shoppers to come to our store …” Chung told reporters.
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