Masan has announced cooperation agreements with several foreign investment funds amid the pandemic, showing its global appeal. - VnExpress International
South Korea’s SK Group buys 16.26 pct stake in VinCommerce
By Thuy Tien April 7, 2021 | 11:00 am GMT+7
SK Group’s logo outside its headquarters in Seoul, South Korea. Photo by Reuters/Kim Hong-Ji.
South Korean conglomerate SK Group has acquired a 16.26 percent stake in VinCommerce, the subsidiary of Masan Group that controls its VinMart retail chain, for $410 million.
Woncheol Park, representative director of SK South East Asia Investment, said his company has great belief in the potential of Vietnam’s online and offline retail sector and expects VinCommerce to play a vital role in its modernization.
Both SK Group and Masan Group expect organized retail with distribution and logistics management like supermarkets and hypermarkets to account for 50 percent of Vietnam’s retail sector in the next decade, up from the current 8 percent and the fastest rate in the Asia Pacific region.
streetAsia s premium subscription service Unlock your competitive advantage in a rapidly evolving landscape. Our packages come with exclusive access to archive content, data, discount on summit tickets & more. Be a part of our growing community now. SUBSCRIBE NOW
Singapore Reporter/s
In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digi
SK invests in Vietnam s VinCommerce
Posted : 2021-04-06 16:39
Updated : 2021-04-06 19:32
SK South East Asia Investment Managing Director Park Won-chul, right, and Vice President Kwon Hye-jo, left, pose with Masan Group CEO Danny Le on screen at SK s building in central Seoul, Tuesday, after signing a deal about SK s investment in Masan s retail unit, VinCommerce. Courtesy of SK
By Kim Bo-eun
SK Group said Tuesday its subsidiary in Southeast Asia has invested in Vietnam s top retailer, VinCommerce.
SK South East Asia Investment acquired 16.3 percent of the firm s shares for 460 billion won ($410 million), as part of a strategic partnership with its parent company, Masan Group, SK said.
SK Group buys 16 3% stake in Vietnam s VinCommerce for $410 million gizmochina.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gizmochina.com Daily Mail and Mail on Sunday newspapers.