 |
[Alpha Biz=(Chicago) Reporter Paul Lee] Convenience store E-Mart 24 has confirmed its entry into Cambodia for the first time in the industry. As the third case of overseas expansion after Malaysia and Singapore, it is expected to serve as a bridgehead to further expand its K convenience store position in the Southeast Asian market in the future.
E-Mart 24 announced on the 22nd that it has signed a master franchise contract with Saihan Partners, a Cambodian joint venture, at the conference room of E-Mart 24 headquarters in Seongdong-gu, Seoul.
Saihan Partners is a joint venture between Cambodian company 'Saisons Brother Holdings' (Saisons Group) and 'Hanlim Architecture Group' (Hanlim Group), which has opened a corporation in Cambodia since 2017 and is working on developing real estate in Southeast Asia.
E-Mart 24 signed a three-way business agreement (MOU) with Saisons Group and Hanlim Group in August and signed the main contract on the same day after preparing to establish a joint venture. Through this contract, E-Mart 24 will enter Cambodia as a master franchise.
Saihan Partners, which signed a contract with E-Mart 24, plans to expand to 100 stores within five years in line with the local situation in Cambodia after opening its first store in the first half of next year.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
