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Emart24 enters convenience store market in India
Emart24 CEO Choi Jin-il, third from left, poses with Jung Brothers Hospitality CEO Peter Jung, fourth from left, and Solitaire Group Leasing General Manager Rakesh Pathak, second from left, after signing a brand license agreement at Emart24's office in Seoul, Monday. Courtesy of Emart24
By Ko Dong-hwan
Convenience store chain Emart24 has officially entered the Indian market, setting its sights on the world’s most populous country with over 1.4 billion people.
The subsidiary of retail giant Emart signed a brand licensing agreement Monday with Jung Brothers Hospitality CEO Peter Jung — a first-generation Korean entrepreneur active in India — and local real estate developer Solitaire Group. The signing ceremony took place at Emart24’s headquarters in Seoul.
Under the agreement, Emart24 will debut its first Indian store in Pune, Maharashtra Province in August. A second store is planned for October, with the location yet to be decided.
Solitaire Group will provide its business infrastructure to support the store launches, while Jung will contribute his operational expertise, drawn from running 28 franchise outlets in Pune, including the popular Café Peter chain.
Pune has never hosted a Korean convenience store brand until now. Ranked No. 1 out of 111 cities in the Indian government’s Ease of Living Index, the city is recognized as an economic hub alongside Mumbai. It is also home to industrial clusters formed by major Korean companies, as well as global IT and automobile firms.
Emart24 said it selected India as its next overseas destination after Malaysia and Cambodia, citing the country’s robust economic growth and strong consumer potential. Nearly 47 percent of India’s population is under the age of 25, offering a solid foundation for long-term market growth.
Emart24’s entry into India is expected to spark a retail transformation, as 75 percent of the country’s stores remain traditional neighborhood grocery shops lacking modern technologies and conveniences. The strong popularity of K-pop and other Korean wave content in India is also anticipated to support the brand’s growth, the company said.
“India is a young nation with an average age of 28 and tremendous growth potential. We are proud that Emart24 is the first Korean convenience store brand to enter the Indian market. We will continue exploring the possibility of transitioning to a master franchise model and expanding into additional countries in the future,” said Emart24 CEO Choi Jin-il.