THE KOREA ECONOMIC DAILY, GLOBAL EDITION

E-Mart24 Inc., a leading South Korean convenience store chain, announced on Friday plans to enter the Cambodian market, aiming to open its first store in June and expand to 100 stores within five years.

The announcement came during a press conference held at the Fairfield by Marriott Phnom Penh Hotel, where the company unveiled its vision and ambitious growth plans for Cambodia.

To securely establish its presence, E-Mart24 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 in various sectors like food, distribution, and construction, and Hanlim Architectural Group, a South Korean real estate development company.

A 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 E-Mart24's operations support. "We plan to closely collaborate with Saihan Partners to continuously expand and offer stores that provide unique value to Cambodian customers."

Currently, E-Mart24 is operating around 50 stores in Malaysia and Singapore.

Write to Young Chan Song at 0full@hankyung.com