May 03, 2024
Retail & Consumer
E-Mart 24 to venture into Cambodia in June
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Fronm left: Hanlim Architectural Group chairman Park Jin-sun, Korean Amb. to Cambodia Park Jeong-wook, E-Mart 24 Overseas Operations Director Kang In-seok, Saihan Partners CEO David Sambo and Vice Commerce Minister H.E. Oul Prachea (Hanlim Architectural Group) |
South Korean convenience store chain E-Mart 24 is set to enter the Cambodian market in June, joining hands with Korean developer Hanlim Architectural Group and Cambodia's Sison Brother Holdings.
The company announced its plans during a ceremony held at the Fairfield by Marriott Phnom Penh Hotel in Cambodia on Feb.1.
E-Mart 24 had signed a master franchise agreement with "Saihan Partners," a joint venture between local Cambodian Sison Brother Holdings and South Korean real estate development firm Hanlim Architectural Group, in December last year.
E-Mart 24 aims to open its first store in Cambodia in June and expand to 100 stores within five years, according to company officials.
The master franchise model allows franchise operators to sell operating rights to local companies instead of directly expanding overseas.
Kang In-seok, the executive in charge of E-Mart 24's operations support, expressed his delight at being the first South Korean convenience store to enter the Cambodian market.
He also emphasized the close collaboration with Saihan Partners to provide high-quality convenience store services to Cambodian customers.
Hanlim Architectural Group Chairman Park Jin-sun also expressed confidence that E-Mart 24 will serve as an intermediate logistics base to shorten delivery times, increase logistics efficiency, and create new customer value based on convenience stores.
(investor@heraldcorp.com)
(investor@heraldcorp.com)
