South Korean convenience store chain EMart24 has announced it will open its first Cambodia store this June, with plans to expand to 100 stores in the Southeast Asian nation within five years.
Exact store locations and dates were not disclosed.
The Cambodia entry news comes two months after the retailer signed a master franchise agreement, with Saihan Partners in December last year.
Saihan Partners is a joint venture between Saisons Brother Holding, a Cambodian company operating across several sectors including food, distribution, and construction, and Hanlim Architectural Group, a South Korean real estate development company.
The master franchise allows a franchiser to sell the rights to operate the franchise business to a local company instead of directly expanding overseas.
“We are delighted to be the first South Korean convenience store in Cambodia,” said Kang In-seok, who oversees EMart24’s operations support.
“We plan to closely collaborate with Saihan Partners to continuously expand and offer stores that provide unique value to Cambodian customers.”
The fourth-ranked convenience store operator in South Korea, EMart24 is an affiliate of Shinsegae Group, which operates department stores, large discount store chains and other retail businesses. EMart 24 currently operates around 50 stores in Malaysia and Singapore.
Revenue in the convenience food market amounts to USD 534.4 million in 2024, with the market expected to grow annually by 6.37 percent (CAGR 2024-2028), according to Statista.