April 26, 2024

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[THE INVESTOR] E-mart, Korea’s largest discount chain operated by Shinsegae, said on Jan. 26 that it plans to enter the US by opening its premium food outlet PK Market.

While mostly high-end products will be sold at the outlet, some of its low-tier private brands such as Peacock and No Brand will also be on the shelves.

E-mart is eyeing cities including Los Angeles and San Francisco where the Asian community has a significant presence. The company is also considering acquiring a local food factory in Portland, Oregon, for producing its Peacock products to be sold in the US.

The discount chain operator has also joined hands with Taubman Centers, which jointly established Starfield shopping malls in Korea.

E-mart has been trying to diversify its global reach, particularly after closing down many of its stores in China over the THAAD row. The retain chain’s accumulated operating loss in China reached over 150 billion won (US$ 141.07 million) since 2013, according to industry sources. E-mart finished the process of exiting the Chinese market in December last year.

“We are continuously trying to find a breakthrough overseas,” an E-Mart official said in a statement. “Including the US, we are looking at diverse countries worldwide.”

Southeast Asia is one such region. The company will start building its second E-mart outlet in Ho Chi Minh, Vietnam, in May.

By Song Seung-hyun (ssh@heraldcorp.com)