Retail in Asia

In People

Samsung and Tesco build Global Leadership Academy in Korea

Leading retailer Samsung Tesco is building an Asia leadership academy at Yongyu Mui in the Incheon Free Economic Zone. The joint venture between Samsung and Tesco has started the construction work after it concluded a foreign investment in the amount of USD 40 million, the authority announced on March 15.

“The academy project contributes to global talent development. And it is located in the international tourism city, and will invigorate the tourism and economy around the free economic zone”

The next generation facility for research and education covers 64,206 square meters including a gross floor area of 13,738 square meters, with a view to completion by the end of next year. After the academy is completed by 2011, a logistics R&D center and a logistics college will follow by 2013 and 2015 respectively. Once up and running, the institution will employ 3,000 and attract 20,000 trainees.

The retailing joint venture currently employs 89,600 in six Asian countries including Korea, Thailand, Malaysia, China, Japan, and India. Its Asian employees will undergo regular training at the Incheon academy.

“The academy project contributes to global talent development. And it is located in the international tourism city, and will invigorate the tourism and economy around the free economic zone,” noted an official with the Incheon Free Economic Zone Authority.



Story provided by Business Wire.

(Source: Business Wire)