Homeplus () is a

Korean Korean may refer to: People and culture * Koreans, ethnic group originating in the Korean Peninsula * Korean cuisine * Korean culture * Korean language **Korean alphabet, known as Hangul or Chosŏn'gŭl **Korean dialects and the Jeju language ** ...

discount store A discount store or discounter offers a retail format in which products are sold at prices that are in principle lower than an actual or supposed "full retail price". Discounters rely on bulk purchasing and efficient distribution to keep down cost ...

retail chain 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 Korean Peninsula and sharing a land border with North Korea. Its western border is formed by the Yellow Sea, while its eas ...

. Homeplus is the second largest retailer in South Korea, behind

Shinsegae Group Shinsegae (, ) is a South Korean department store franchise, along with several other businesses, headquartered in Seoul, South Korea. The firm is an affiliate of Shinsegae Group, South Korea's leading retail chaebol, and one of the big three d ...

e-mart e-mart () is the largest retailer in South Korea. There were 160 stores across the country as of December 2016. It was founded on 12 November 1993 by Shinsegae as the first discount retailer in South Korea. E-Mart is the oldest and largest dis ...

chain. Homeplus operates its hypermarkets, super market chain 'Homeplus Express', convenience store '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 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 (ex-

Carrefour Carrefour () is a French multinational retail and wholesaling corporation headquartered in Massy, France. The eighth-largest retailer in the world by revenue, it operates a chain of hypermarkets, groceries stores and convenience stores, whic ...

) 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 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

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 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