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Biz News Korea(Eng)
Shinsegae Group chief heads overseas for business ideas
- Collected
- 2018.02.02
- Distributed
- 2018.02.05
- Source
- Go Direct
Chung Yong-jin, Shinsegae Group vice chairman
According to Shinsegae Group on Thursday, Chung left for Melbourne, Australia to study latest shopping mall trends on Wednesday or two weeks after his trip to Ho Chi Minh, Vietnam to inspect the opening of an outlet of its discount store E-Mart chain.
Australia is known to have some of the best shopping malls of the world.
Shinsegae in recent years has been concentrating its efforts on fostering shopping mall business as new growth engine amid waning sales in traditional retail businesses like big-box store and department stores.
The group also hopes to extend its overseas stretch. It previously operated E-Mart outlets in China but left the market last year following Beijing-sponsored boycott of Korean brands due to political row over Seoul’s deployment of a U.S. antimissile shield. Since then, it has eyed Southeast Asia and opened its first E-Mart outlet in Vietnam last month. The company is also mulling on opening additional stores in Vietnam and branching out to Laos and Cambodia.
By Lee Han-na and Cho Jeehyun
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