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Biz News Korea(Eng)

Shinsegae launches new grocery brand PK market

Collected: 2016.08.26

Distributed: 2016.08.29

Source: Go Direct

South Korea’s leading hypermarket retailer E-Mart Inc., a unit of the nation’s retail conglomerate Shinsegae Group, plans to launch a high-end grocery store “PK Market” at Starfield Hanam, which would make the nation’s largest suburban complex shopping mall slated for opening on September 9.

According to the retail industry Thursday, Shinsegae Group Vice Chairman Chung Yong-jin masterminded entire launch process of PK Market, to sell premium food items in old-fashioned market ambience. It would be a different market concept with Lotte Group’s “Lotte premium food market,” as well as its upscale “SSG Food Market” run by Chung’s younger sister Chung Yoo-kyung, president of Shinsegae Inc.

An E-Mart official said that at PK Market, a wide range of top-quality food products will be sold 20 percent - 30 percent cheaper than other similar premium hypermarkets. Around 40 percent of 10,000 grocery products would be top-tier imports including import beer in 370 brands. The outlet will be the first to sell local beer from Okinawa and Nagano in Japan.

PK Market at Starfield Hanam will be the test bed for the Korean retailer to decide whether to set up additional outlets in the country.

By Sohn Il-seon

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