BUSINESS

[Photo News] Convenience stores enjoy boom

By Korea Herald
  • Published : Feb 17, 2020 - 15:43
  • Updated : Feb 17, 2020 - 15:43

Shoppers browse items at a convenience store in Seoul on Monday. (Yonhap)

With changing consumption patterns amid the rising number of single-member households and online shopping, the convenience store chains in South Korea reaped their largest margins last year, according to industry data. 

GS25 made 256.5 billion won in operating profit last year, its largest on record. 

CU also marked a record 196.6 billion won in operating profit. 

The consolidated operating profit of Emart, the large retail store chain, meanwhile, dropped 67.4 percent to 150.7 billion won. 

Lotte Mart, the country’s third-biggest large retailer by revenue, has recently announced the closure of about 200 branches in a restructuring effort. (khnews@heraldcorp.com)


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