Shinsegae Group Vice Chairman Chung Yong-jin said Tuesday that E-Mart, South Korea's largest discount store outlet, will focus on its online shopping mall, electronics retail and "No Brand" products to generate future growth.
Speaking to a group of employees of E-Mart, an affiliate of Shinsegae Group, at the company's headquarters in Seoul, Chung said the focus should be put on the development of key promising business sectors.
A file photo of Shinsegae Group Vice Chairman Chung Yong-jin (Yonhap)
He said E-Mart Mall, an online store; Electro Mart, the conglomerate's electronic retailer; and No Brand products can create opportunities going forward.
E-Mart has provided several No Brand products at lower prices than its competitors under the concept that consumers deserve quality products at affordable prices. Low prices are possible since there is minimal packaging and no extra marketing costs.
Chung called on the employees to strive to make something that has never existed before, saying, "Entrepreneurship for E-Mart employees should be creating new values."
He took note of Japan's major shopping malls, which have witnessed the halving of sales for the past 15 years amid keen competition with convenience stores and online malls. (Yonhap)