South Korea’s large retail chains are starting their business earlier to minimize the expected decline in revenues due to the new regulations that govern business hours.
Homeplus, one of the biggest retail chains here, said it has adjusted the opening time from 10 a.m. to 9 a.m. for its 22 branches across the nation.
Other retailers such as Emart and Lotte Mart are reportedly moving in the same direction, starting their business 30 minutes or 1 hour earlier.
The move came as the retailers face a revenue decrease due to the regulatory limit to be imposed on the business days. The mandatory rules require large retailers to close down twice a month on Sundays.
The new rules are set to come into effect on April 22, when 114 retail stores are set to close down.
(
insight@heraldcorp.com)
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