Homeplus, South Korea’s second largest hypermarket chain, has appointed Lee Jae-hoon, current CEO of Carver Korea, as its new CEO. Has decades of CEO experience His appointment came three months after the retailer's previous CEO Lim Il-soon resigned in January . Lee has decades of CEO experience leading various businesses, including KFC Korea, Pizza Hut Korea. " The newly appoi...

The country’s supermarket operators are launching new initiatives to better serve neighborhood needs. Retailers are strengthening supermarket offers in response to changes in consumer preferences Supermarkets had flat growth in 2020 (value down marginally by -0.1%YoY), whereas hypermarkets saw relatively large decline at -2.6%YoY. This is due to store closure as well as changes in consumer ...

eBay is to sell its business in South Korea. Big name players in retail are all in for a deal valued at KRW5 tn (US$4.42 bn). Four-way race for the acquisition Lotte Group, Emart Inc. (owned by Shinsegae), SK Telecom Co. and private equity firm MBK Partners have been chosen as the preliminary bidders to buy a controlling stake of eBay Korea. Kakao has decided to opt out of the bidding. ...