Seoul (ANTARA News/Asia Pulse) - Lotte Group, a South Korean conglomerate, is considering buying the discount and department store units of GS Retail Co., industry sources said today.

The group, which operates Lotte Shopping Co., the country's largest department store chain, is seeking to boost its discount store sector in order to compete with larger local rivals E-Mart, operated by Shinsegae Co. (KSE:004170), and Home Plus, operated by Samsung Tesco Co.

GS Retail, the retail arm of GS Group, has been seeking to sell its discount store unit, GS Mart, and department store business GS Square, as part of efforts to realign business operations.


Source:
Business in Asia Today - Jan 14, 2010
published by Asia Pulse

Editor: Ricka
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