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Korean example shows need for local knowledge 1 Jun 2006

In the past few months both Carrefour and Wal-Mart have abandoned the Korean retail market, selling up their remaining stores in the country. The tactical retreat of the world’s top-two retailers from South Korea demonstrates the difficulties faced by international corporations when entering regional markets. Joe Ayling reports on the lessons to be learnt from the Korean example.

Latest News

SOUTH KOREA: DAR signs Korean agency deal 7 Mar 2007

Suining Yinfa DAR Industrial Company, known as DAR Industrial, a subsidiary of Chinese agricultural group Voice Diary, has signed an agreement with the Korean company DongUi Cosmetics (DongUi), for its Dahurian Angelica Root (DAR) products sold on Korean market.

SOUTH KOREA: Sale of Wal-Mart stores given go-ahead 27 Sep 2006

South Korea’s competition regulator has approved the sale of Wal-Mart’s 16 Korean outlets to the country’s biggest discount operator Shinsegae on the condition that the company sells on one-quarter of the stores. The deal, which was announced in May, is worth US$882m.

KOREA: E.Land’s Carrefour acquisition approved, new name announced 14 Sep 2006

The South Korean competition regulator, the Fair Trade Commission (FTC), has approved Korean clothing company E.Land Corporation’s acquisition of the South Korean unit of French retailer Carrefour.

KOREA: Carrefour fined for squeezing suppliers 5 Jul 2006

The Korean Fair Trade Commission has fined French retail giant Carrefour KRW1.39bn (US$1.48m) for unfair business practices, the regulator said yesterday (4 July).