Tesco in Korea

Asia is becoming an increasingly important market for Tesco, with 200 or so stores in six countries. Having had operations in Thailand, Taiwan, South Korea and Malaysia for several years, the company moved into the regions key markets in 2004, acquiring a convenience store chain in Japan and investing in a hypermarket operator in China.

Samsung-Tesco: South Korea

· Tesco has strengthened its business in South Korea with the acquisition of a number of stores from the Aram Mart group

· The deal consists of three compact hypermarkets and nine supermarkets

· Tesco has around 28 stores in South Korea, and last year launched into the supermarket sector with the roll out of its Super Express chain

· By acquiring the nine supermarkets from Aram Mart, Tesco is immediately doubling its number of supermarkets. Long term, by 2008, Samsung Tesco hopes to have a network of 165 Super Express stores

· Samsung Tesco also picks up three hypermarkets as part of the deal, helping it to grow in what is THE growth channel in South Korea

· Tesco is the largest foreign grocery retailer in the country and is third overall behind local players