CU

Retail Asia08/04/2021

CU has opened the doors of its first store in Malaysia, signaling a full-fledged entry into the country. CU is one of the big three convenience store chains in South Korea in terms of the number of stores, and the chain is owned by South Korean company BGF Retail Co Ltd. CU announced today that […]

Retail Asia22/10/2019

Major South Korean convenience-store chain CU is preparing to accept payments in cryptocurrency. The chain, which operates more than 13,000 outlets in the country, will use the Chai payment system to trade in Terra, a won-backed stablecoin that has garnered investment from many large Korean firms. CU parent firm BGF Retail partnered with Chai earlier […]

Retail Asia21/02/2019

The operator of South Korea’s CU convenience stores, BGF Retail, has achieved KRW189.5 billion (US$168.9 million) in operating profit last year, a leap of more than 600 per cent over last year. The company said on Tuesday its sales had risen by 515.3 per cent to KRW5.77 trillion ($5.14 billion). The results confirmed market predictions […]

Retail Asia08/01/2019

South Korean convenience store openings in South Korea fell last year, according to industry data. Thought to be the effect of increasing labour costs and market saturation, the slowdown has manifested amongst several industry operators – including BGF Retail’s CU, which opened 980 fewer stores than the previous year’s total of 1646; and GS25, which […]

Retail Asia05/12/2018

South Korean convenience store operators have agreed not to engage in cut-throat competition in the latest move to better protect struggling franchisees. A key centerpiece of the voluntary deal calls for CU, GS25 and 7-Eleven and three other convenience store brands to decide “carefully” over whether to open a new convenience store near an area […]

Retail Asia22/11/2018

Mobile payments at South Korean convenience stores have more than doubled this year thanks to the greater use of smartphones and the expansion of mobile settlement services. South Korea’s top convenience store chain CU said the number of so-called easy mobile payments at its outlets soared 121.5 per cent year on year in the first […]

Retail Asia27/09/2018

South Korean retail operators Lotte and Shinsegae are competing to buy the 21-year-old local subsidiary of Japanese convenience-store operator Ministop. Shinsegae and Lotte respectively own rival chains Emart24 and 7-Eleven and are both reportedly seeking to take full ownership of Ministop South Korea. Both companies see the deal as a means to grow their respective […]

Retail Asia14/08/2018

South Korean convenience store operators GS25 and CU received a boost from in-house brands in the second quarter. GS Retail, which operates the GS25 chain, recorded a net profit jump of 11.1 per cent year on year to 45.8 billion won (US$41 million) in the April-June period, on sales up 5.3 per cent to US$2 […]

Retail Asia11/07/2018

More South Korean c-stores are set to launch in-house products as local retailers move to attract more consumers with price competitiveness. E-Mart24, the convenience-store arm of South Korean retail giant Shinsegae, said it is planning to unveil its own private-label product within this year. Ministop Korea, operator of Ministop, is set to launch its own […]

Retail Asia26/06/2018

South Korean mobile carrier SK Telecom has announced a US$449 million investment into a subsidiary’s e-commerce platform, 11Street Shopping Mall. In a decision yet to be approved by shareholders, SK will use the investment, sourced from the H&Q Korea private equity fund, to establish a new business entity. An SK spokesperson said that further reshuffling […]

Retail Asia22/06/2018

South Korean convenience stores saw their sales more than double in some categories as tens of thousands of South Koreans took to the streets to cheer on their national football team in the first game of its World Cup campaign. BGF Retail Co, which operates the country’s largest convenience store chain, CU, said sales of […]

Retail Asia06/06/2018

BGF, owner of Korean c-store chain CU, has boosted its stake in online grocery business Hello Nature. Founded in 2012, Hello Nature offers compact packaged-grocery deliveries. It was bought by SK Planet in 2016. Its sales reached US$9 million last year. Investing 30 billion won (US$28 million) for a controlling 50.1 per cent stake, BGF […]

Retail Asia23/11/2016

The Korean convenience store sector is experiencing rapid growth as heavyweights battle for market share. The number of convenience stores in South Korea surpassed 33,000 as of the end of October this year, marking a rapid growth since the opening of the first store 27 years ago, according to industry data. That’s a significant increase […]

Tag: CU

CU opens first store in Malaysia in collaboration with MyNews

South Korean convenience-store chain CU to accept cryptocurrency

CU convenience stores parent records sales leap

South Korean convenience store openings slow down

FTC Korea approves convenience stores’ voluntary rules to curb competition

Korea’s convenience stores to use mobile payments more

Ministop South Korea is for sale, rivals compete

Convenience store in Korea enjoying revenue boost

South Korean convenience stores to sell more own brand

11Street Shopping Mall to get US$449 million investment

World Cup boosts South Korean convenience stores revenue

BGF Retail outlines KRW30bn online investment

Boom time for Korean convenience store sector