E-Mart 24 becomes first Korean convenience store operator to enter Laos...speedy expansion into overseas markets

E-Mart 24, a convenience store chain under the Shinsegae Group, is the first Korean convenience store chain to enter Laos.
On the 28th, the company announced that it had signed a master franchise agreement with the Corao Group in a conference room at the Corao Group headquarters.
Instead, the company will sign a contract with a local company and then sell the franchise rights to those who wish to become franchisees in a certain area.
Key management members, including Team Leader Wonyoung, Chairman Oh Seyoung of the Korao Group, and CEO Kim Won-chul, attended the event.
The KOLAO Group, with which E-Mart 24 has signed a contract, is run by Korean Oh Se-young.
The company was established by the president of KOK Mart, and is known as the largest private company operating in Laos. Through this contract, E-Mart 24 will become a wholly owned subsidiary of KOK Mart, which is operated by the Korao Group.
The company plans to gradually convert over 50 KOK MINI stores into E-Mart 24 stores while also implementing a strategy of opening new stores.
The population of Laos is approximately 7.5 million. The country is still dominated by small-scale markets and small-scale distribution channels.
Due to the lack of channel capacity, it is an area with high potential for the growth of convenience stores. Convenience stores operated in Laos are Thai convenience stores and the Ko Lao Group's KOK KOK
The total number of stores is over 120, including "MINI." Choi Jin-il, CEO of E-Mart 24, said, "We will work closely with our local partner, the Korao Group, to expand E-Mart stores in Laos.
We will ensure that 24 can be successfully established."