Homeplus () is a

Korean Korean may refer to: People and culture * Koreans, people from the Korean peninsula or of Korean descent * Korean culture * Korean language **Korean alphabet, known as Hangul or Korean **Korean dialects **See also: North–South differences in t ...

discount store Discount stores offer 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 costs. Types (Uni ...

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

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. It constitutes the southern half of the Korea, Korean Peninsula and borders North Korea along the Korean Demilitarized Zone, with the Yellow Sea to the west and t ...

. Homeplus is the second largest retailer in South Korea, behind Shinsegae Group's

e-mart Emart Inc. () is the largest retailer in South Korea. The retailer was founded on 12 November 1993, by Shinsegae, as the first discount retailer in South Korea. There were 160 stores across the Country as of December 2016. Emart is South Korea' ...

chain. Homeplus operates its hypermarkets, super market chain 'Homeplus Express',

convenience store A convenience store, convenience shop, bakkal, bodega, corner store, corner shop, superette or mini-mart is a small retail store that stocks a range of everyday items such as convenience food, groceries, beverages, tobacco products, lotter ...

'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 Construction and Trading Corporation (; stylized as Samsung C&T) is a South Korean construction and engineering company. It was founded in 1938 as the first Samsung company and was initially involved in construction and overseas trading ...

, Homeplus opened its first hypermarket in

Daegu Daegu (; ), formerly spelled Taegu and officially Daegu Metropolitan City (), is a city in southeastern South Korea. It is the third-largest urban agglomeration in South Korea after Seoul and Busan; the fourth-largest List of provincial-level ci ...

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 the United Kingdom at its head offices in Welwyn Garden City, England. The company was founded by Jack Cohen (businessman), Sir Jack Cohen in ...

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

Homever Homeplus () is a 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 Group's e-mart chain. Homeplus operates it ...

(ex-

Carrefour Carrefour Group, S.A. (, ), is a French multinational retail and wholesaling corporation headquartered in Massy, Essonne, Massy, France. It operates a chain of hypermarkets, grocery stores and convenience stores. By 2024, the group had 14,000 ...

) 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 private equity firm focused on North Asia. According to Forbes, MBK Partners is one of the largest private equity firms in Asia. In 2023, ''Private Equity International'', ranked MBK Partners as the eighth largest privat ...

, a South Korean buyout firm, which partnered with the

Canada Pension Plan Investment Board The Canada Pension Plan Investment Board (CPPIB; ), operating as CPP Investments (), is a Canadian Crown corporation established by way of the 1997 ''Canada Pension Plan Investment Board Act'' to oversee and invest the funds contributed to and h ...

and Singapore's

Temasek Holdings Temasek Holdings (Private) Limited ( ) is a Singaporean State ownership, state-owned multinational investment firm. Incorporated on 25 June 1974, Temasek has a net portfolio of US$288 billion (S$389 billion) as of 2024. Headquartered at Orchard ...

in a transaction worth £4.2 billion. It is Headquartered in Gangseo-gu, Seoul, South Korea in 2024, it operates a total of 127 hypermarkets and 413 Expresses nationwide. Because of rapid inflation in Korea, Homeplus is doing some events to lower lower prices.

Homever

Homever () was a brand name of a

hypermarket A hypermarket 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 full grocery lines and general merchandise. In ...

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 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)
Homeplus Instagram

E-commerce website
(in Korean) Tesco Former Samsung subsidiaries Hypermarkets Discount stores of South Korea 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