A joint venture has been launched by the country’s three convenience store operators: LG Mart, Family Mart and Tongyang Mart. The venture, called e-CVS NET, is a delivery service that plans to utilise the three chains’ 1,600 outlets nationwide to provide a pick up service for online purchases and a deposit facility for delivery packages.
Funded with an initial investment of 3bn won, LG, Family Mart and Tongyang will hold stakes of 19.9%, 19.9% and 18% respectively. Related companies will hold the remaining stock.
e-CVS NET will be open within a month, and the three partners are holding extensive discussions to develop their networks and establish alliances with operators of Internet shopping sites.
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