GS Retail, Korea's leading retailer, is planning to expand its business in Indonesia, as part of a globalisation strategy to find new growth engines outside Korea.
Draw on synergy of other group business
GS Retail is part of Korea’s conglomerate GS Group who aims to expand its energy and construction operations, together with retail to Indonesia. The group has already established its presence in the country but wants to capitalise further on the nation’s growing consumer market.
Group Chairman Huh Chang-soo said that "Southeast Asia is abundant with natural resources, and has a rapidly growing consumer market. The region is not geographically far from Korea. So, our energy, retail and construction units should actively seek new growth opportunities in Indonesia and other Southeast Asian nations.''
Plan to enter convenience store business
GS Retail has set up an Indonesian subsidiary to open convenience stores in the country and other Southeast Asian nation.
Currently, GS Home Shopping runs a joint venture with an Indonesian retailer called MNC GS Home Shopping, which markets a wide range of products manufactured by Korean companies. GS E&C is currently constructing Aeon Mall, a large-scale shopping centre south of Jakarta.
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