Homeplus Co.,Ltd. (South Korea)

Homeplus Co., Ltd. is a Korean discount store retail chain headquartered in Gangnam-gu, Seoul, South Korea. It was founded in 1997 as the distribution business department of Samsung C&T Corporation. Homeplus operates approximately 140 branches throughout South Korea and employs 25,000 people. It is the second largest retailer in South Korea, behind Shinsegae Group's e-mart chain. The company offers a variety of products and services, including hypermarkets, a super market chain called 'Homeplus Express', a convenience store brand called '365 Plus', and an online shopping service. Homeplus stores sell groceries, clothes, and appliances. In 1999, Homeplus formed a joint venture with the British retail chain Tesco, called 'SamsungTesco'. Since then, it has grown by acquiring 33 Homever (formerly Carrefour) stores. On March 1, 2011, the company changed its name from Samsung Tesco Co., Ltd. to Homeplus Co., Ltd. due to the expiration of a mutual use contract with the Samsung Group. In November 2011, Homeplus opened its first convenience store under the brand Homeplus 365. In September 2015, Homeplus was sold to MBK Partners, a South Korean buyout firm, in a transaction worth £4.2 billion. The company currently operates a total of 107 hypermarkets and 828 express stores nationwide.