South Korean discount store chain's first outlet in Vietnam. Photo credit: Saigon Times Online
E-mart, the discount store chain operated by Korean-owned Shinsegae Corporation, will open its first store in Vietnam next Monday, news website Saigon Times Online reported Wednesday.
With an investment of US$60 million, the store covers more than three hectares in Go Vap District, about one kilometer to the northeast of Ho Chi Minh City's center, Choi Kwang Ho, CEO of E-mart Vietnam, told the website.
The store will mainly sell locally-made products, he said, adding that his company also plans to introduce select Vietnamese products to its stores in South Korea.
The second Korean retailer to enter Vietnam after hypermarket chain Lotte Mart, E-mart is now looking to get a license for its second store, also in HCMC, the website said.
It plans to open 10 stores around Vietnam by 2020, according to Choi.