French retail giant Carrefour has said it plans to invest W250bn (US$216.1m) in Korea next year in four new stores and improvements to existing stores.

“We are well aware of the huge potential in the Korean retail market. The current pace of investment will continue for the coming three or four years,” Philippe Broianigo, head of Carrefour Korea, was quoted by the Korea Herald as saying.

Carrefour’s total investment in its Korean operations is expected to reach W1.8trn next year. The company, which opened its first Korean store in Seoul in 1996, now operates 27 stores nationwide.

Meanwhile, Carrefour Japan is set to open its fifth store in October, reported the Japanese News Digest. The new store is located in Osaka, western Japan.