Located in Ho Chi Minh City, the hypermarket is expected to open later this year.
The Republic of Korea's largest retailer, Emart, has officially announced plans to open the first hypermarket in Vietnam at the end of this year with an investment up to $60 million. The announcement was made at Emart’s Partner Day which took place on March 31.
"Emart has undergone an exciting journey before reaching the milestone of opening the first hypermarket in Vietnam later this year,” Mr. Choi Kwang Ho, the Director of Emart Vietnam said at the event. “This milestone holds the promise of cooperation between Emart and goods producers and distributors in Vietnam.”
Located in Ho Chi Minh City’s Go Vap District, the hypermarket is expected to provide food, household utensils, and clothing made in South Korea. It will also have entertainment for children, restaurants and cinemas to bring convenience and comfort for consumers. Emart also has plans to open a second base in the city’s Tan Phu District.
Emart began researching the Vietnamese market to garner a fuller understanding of the diverse needs of customers in 2011. After being granted an investment license in May 2014 and construction permits in February of this year, the giant retailer has sped up their construction of the Go Vap hypermarket.
Emart began operations in the Republic of Korea in 1993, and has since expanded rapidly opening 153 stores in the RoK and ten in China. The company recorded worldwide gross revenue of $13.2 billion in 2014.