Retail in Asia

In Shops

Korean new law protects small stores; more than 100 supermarkets close

More than 100 supermarkets closed in South Korea on Sunday in accordance with a new law aimed at protecting small retailers, according to media reports. E-Mart, Korea’s biggest supermarket chain and part of Shinsegae Group, closed 44 of its 137 retail stores nationwide, while Homeplus, part of British retailer Tesco, shut 44 stores.