U&I cooperates with E-Mart

The Korean leading retail group E-Mart having 127 outlets in South Korea and 25 in China signed a MoU with Binh Duong province’s U&I Corp. to set up a retail joint venture in Vietnam.

Accordingly, E-Mart Vietnam will have initial investment capital of US$80 million, of which 80% is provided by E-Mart and the remaining 20% by U&I, and open the first outlet in Hanoi. The two companies are expected to expand its retail stores in Vietnam to 52 by 2020 at a total cost of US$1 billion.

The two companies are looking for store locations in major cities and depending on each area, the joint venture will consider setting up a convenience store, supermarket or distribution outlet.

E-Mart Vietnam will focus on food and fresh food products including agricultural and aquatic products in which Vietnam has strengths. E-Mart is well-known for its provision of fresh farm products, foods and foodstuffs. 

Reported by T.Minh – Translated by A.C