Homeplus () is a Korean discount store

retail chain A chain store or retail chain is a retail outlet in which several locations share a brand, central management and standardized business practices. They have come to dominate the retail and dining markets and many service categories, in many pa ...

running about 140 branches with 25,000 employees throughout

South Korea South Korea, officially the Republic of Korea (ROK), is a country in East Asia, constituting the southern part of the Korea, Korean Peninsula and sharing a Korean Demilitarized Zone, land border with North Korea. Its western border is formed ...

. Homeplus is the second largest retailer in South Korea, behind Shinsegae Group's e-mart chain. Homeplus operates its hypermarkets, super market chain 'Homeplus Express',

convenience store A convenience store, convenience shop, corner store or corner shop is a small retail business that stocks a range of everyday items such as coffee, groceries, snack foods, confectionery, soft drinks, ice creams, tobacco products, lottery ticket ...

'365 Plus' and online shopping service. Homeplus stores offer everything from groceries to clothes and appliances. Starting in 1997 with distribution business department of

Samsung C&T Corporation Samsung C&T Corporation ("Construction & Trading Corporation"; formerly Samsung Corporation; Korean: 삼성물산), is a South Korean construction and engineering company. It was founded in 1938 as the first Samsung company and was initially in ...

, Homeplus opened its first hypermarket in

Daegu Daegu (, , literally 'large hill', 대구광역시), formerly spelled Taegu and officially known as the Daegu Metropolitan City, is a city in South Korea. It is the third-largest urban agglomeration in South Korea after Seoul and Busan; it is ...

and its second branch in West Busan. In 1999, a joint venture between Samsung C&T and worldwide British retail chain

Tesco Tesco plc () is a British multinational groceries and general merchandise retailer headquartered in Welwyn Garden City, England. In 2011 it was the third-largest retailer in the world measured by gross revenues and the ninth-largest in th ...

, ‘SamsungTesco’ was launched, and it has grown into the second largest retailer in Korea by taking over 33

Homever Homeplus () is a South Korea, Korean discount store retail chain running about 140 branches with 25,000 employees throughout South Korea. Homeplus is the second largest retailer in South Korea, behind Shinsegae, Shinsegae Group's e-mart chain. ...

(ex- Carrefour) stores since 2008. On March 1, 2011, due to the expiration of the mutual use contract with the Samsung Group, the corporate name was changed from Samsung Tesco Co., Ltd. to Homeplus Co., Ltd. And on November 22, 2011, the first store of Homeplus 365, a convenience store brand, was opened. In September 2015 the company was sold to

MBK Partners MBK Partners (MBKP) is a North Asian focused private equity firm. According to Forbes, MBK Partners is one of the largest private equity firms in Asia, managing $25 billion worth of assets. Overview MBK Partners was founded in 2005 by Michael ...

, a South Korean buyout firm, which partnered with the

Canada Pension Plan Investment Board The Canada Pension Plan Investment Board (CPPIB; french: Office d'investissement du régime de pensions du Canada), operating as CPP Investments (french: Investissements RPC), is a Canadian Crown corporation established by way of the 1997 ''Cana ...

and Singapore's

Temasek Holdings Temasek Holdings (Private) Limited, or simply Temasek, is a Singaporean state holding company owned by the Government of Singapore. Incorporated on 25 June 1974, Temasek owns and manages a total of US$496.59 billion (S$671 billion) in assets u ...

in a transaction worth £4.2 billion. It is headquartered in Gangnam-gu, Seoul, Korea in 2015, and operates a total of 107 hypermarkets and 828 expresses nationwide.

Homever

Homever (홈에버) was a brand name of a

hypermarket A hypermarket (sometimes called a hyperstore, supercentre or superstore) is a big-box store combining a supermarket and a department store. The result is an expansive retail facility carrying a wide range of products under one roof, including ...

of E.Land Retail Limited, which is part of the E.Land Group. E.Land Group, the largest operators specializing in fashion and retail business, production and retail corporations in Korea acquired Korean operations of Carrefour in September 2006 to expand the Group's retail presence in Korea. After the acquisition, Carrefour Korea was renamed to Homever. Homever operated 36 hypermarkets with a combined sales area of approximately 112,366

pyung A ''pyeong'' (abbreviationpy) is a Korean unit of area and floorspace, equal to a square '' kan'' or 36square Korean feet. The ''ping'' and ''tsubo'' are its equivalent Taiwanese and Japanese units, similarly based on a square '' bu'' ( ja:步) ...

which translates to 371,458 sqm. Homever was acquired by

in 2008 and all Homever hypermarkets were re-branded as Homeplus.

References

External links

{{Commons category, Homeplus
Official website
(in Korean)
E-commerce website (Korean)
Tesco Former Samsung subsidiaries Hypermarkets Discount stores Retail companies of South Korea Retail companies established in 1997 Companies based in Seoul Temasek Holdings CPP Investment Board companies South Korean companies established in 1997 2015 mergers and acquisitions

Homever

See also

References

External links