Emart24 is entering the Indian market, the first for a convenience store in Korea.
On the morning of the 30th, Emart24 held a brand licensing contract signing at its headquarters conference room in Seongdong-gu, Seoul, with first-generation Korean entrepreneur Peter Jeong, who is pioneering the Indian market, and the local real estate developer, "Solitaire Group."
Emart24 plans to increase its number of stores starting with its first store in Pune in August, leveraging the business know-how of Peter Jeong, who operates 28 franchise stores including "Café Peter" based in Pune, Maharashtra, and the business hub assets held by Solitaire Group.
The reason Emart24 chose India as its third overseas market, following Malaysia and Cambodia, is due to its high annual economic growth rate and a strong consumer market, with 47% of the population under the age of 25, making it the country with the largest young population in the world.
The first Emart24 store in India, opening in August, will be located on the 1st and 2nd floors of the 11-story Solitaire business hub, with a total area of 80 pyeong (264㎡) combining 55 pyeong (182㎡) on the first floor and 25 pyeong (82㎡) on the second floor.
The first floor will feature a dining area with 36 seats inside and 32 outside, as well as a space for selling no-brand products and counter food, while the second floor will consist of a Korean-style self-photo booth called "Inspo Photo" and a cosmetics sales counter.
Choi Jin-il, CEO of Emart24, said, "I am very pleased that Emart24 is the first Korean convenience store to enter the Indian market," and noted, "We plan to continuously consider a transition to a master franchise and expansion into various countries."