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Emart24 Inc. is making its way to Cambodia and is set to enter the Cambodian market with the opening of its first store. The South Korean convenience store chain will inaugurate the retail establishment in June.
According to The Korea Economic Daily, Emart24 aims to expand in Cambodia and open 100 branches within five years. The company announced its entry into the Cambodian market during a press conference this week that was held at the Fairfield by Marriott Phnom Penh Hotel.
The event was attended by executives and employees of Emart24 and Saihan Partners, including the Ambassador of the Republic of Korea to Cambodia, Park Jeong Wook, and Cambodia's Vice Minister of Commerce, Ok Prachier.
Long-Term Franchise Deal
Emart24 revealed its ambitious growth plans for its business in the region at the said conference. It added that to reach its goals, it has already signed a master franchise agreement with a local firm, Saihan Partners, in December 2023.
The company is a joint venture of Cambodia's Saisons Brother Holding and Korea's Hanlim Architectural Group. The master franchise will allow Saihan Partners to sell rights to local companies to operate Emart24. The headquarters in Korea will be able to expand through its local master franchisee instead of directly managing its business overseas.
"We are delighted to be the first South Korean convenience store in Cambodia," Emart24's operations support head, Kang In Seok, said in a statement. "We plan to closely collaborate with Saihan Partners to continuously expand and offer stores that provide unique value to Cambodian customers."
Great Expectations from Locals
Korea's iNews24 reported that the Cambodians already have high expectations for the launch of Emart24 in their country. After the company shared its plans and visions, the anticipation increased even more. Finally, the convenience store chain hopes to replicate its success by opening stores in Singapore and Malaysia, where it is already operating about 50 branches.
Photo by: LERK/Wikimedia Commons (CC BY-SA 4.0)
