Copper Prices Hit Record Highs as Metals Rally Gains Momentum on Geopolitical Tensions 
Asian Currencies Slip as Dollar Rebounds Ahead of Fed Rate Decision 
Apple Faces Margin Pressure as Memory Chip Prices Surge Amid AI Boom 
The Maire - EuroChem Case: Three Lessons for Global Business 
Philippine Economy Slows in Late 2025, Raising Expectations of Further Rate Cuts 
Bank of Canada Holds Interest Rate at 2.25% Amid Trade and Global Uncertainty 
Asia Stocks Pause as Tech Earnings, Fed Signals, and Dollar Weakness Drive Markets 
Tesla Q4 Earnings Beat Expectations as Company Accelerates Shift Toward AI and Robotics 
Volkswagen CEO Oliver Blume Faces Crucial Year as Investors Demand Turnaround Results 
UK Housing Market Gains Momentum in Early 2026 as Mortgage Rates Fall 
Indonesian Stocks Plunge as MSCI Downgrade Risk Sparks Investor Exodus 
Oil Prices Hit Four-Month High as Geopolitical Risks and Supply Disruptions Intensify 
Woodside Energy Flags Lower 2026 Production Outlook Despite Strong Q4 Revenue Beat 
Gold Prices Hit Record High Above $5,500 as Iran Strike Fears Fuel Safe-Haven Demand 
Microsoft AI Spending Surge Sparks Investor Jitters Despite Solid Azure Growth 
Asian Currencies Trade Flat as Dollar Retreats After Fed Decision 
Google Disrupts Major Residential Proxy Network IPIDEA 
7-Eleven store chain company is hastening the conversion of Ministop stores in South Korea to become its own outlets. The works are ongoing as it wants to fully complete the changeover by the end of 2023.
As per The Korea Herald, Lotte Group's Korea Seven, which operates the 7-Eleven convenience stores in the country, said it is accelerating the conversion of Ministop outlets to secure its position in the market as one of the top three local convenience store operators.
Korea Seven bought the rights to Ministop earlier this year with the aim of building economies of scale against convenience store chain brands, including CU, which has 15,855 stores, and GS25, which operates 15,453 stores.
Moreover, Lotte’s affiliate, Lotte CVS 711, reportedly transferred an additional KRW20.5 billion or around $16 million, to Korea Seven to speed up the transformation of Ministop stores across the nation.
"With the assets, the company is expecting to accelerate the conversion of the two brands," one official of Korea Seven told The Korea Herald. "The plan is to convert 100% of Ministop stores by the end of 2023. The convenience store industry is heavily affected by 'economies of scale.' Increasing the sheer amount of stores is the most important thing right now.”
The company shared that as of last month, it has already converted 850 Ministop stores to 7-Eleven. This is said to be 32.6% of the total Ministops, which numbers 2,600.
The Korea Seven official further explained that by raising the number of stores, they could be in an advantageous position when negotiating with suppliers. Thus, they can diminish the costs needed for the production of 7-Eleven’s exclusive merchandise.
Meanwhile, Korea Joongang Daily mentioned that the local Fair Trade Commission (FTC) granted the approval for Lotte CVS to buy Ministop Korea from Japan's Aeon Group for KRW313.3 billion or about $256.9 million in March. Lotte CVS is a special purpose firm owned by Korea Seven, and it was launched in February for the purpose of acquiring Ministop Korea.
Photo by Duy Nguyen/Unsplash
