South Korea c-store launches own parcel service
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South Korean convenience store chain CU has launched BGF Post, a c-store-specific parcel delivery service unit. A Korean Economic Daily article reported that BGF Post has been set up to distinguish CU’s parcel service from other convenience store chains’.
CU previously operated CVS Net, a joint parcel service with GS25 convenience stores. As it independently operates the new subsidiary, GS25 plans to run CVS Net on its own, says the report.
The company will also explore new business opportunities through BGF Post amid increasing number of convenience store parcel delivery users.
CU is a subsidiary of BGF Retail and has more than 8,000 convenience stores in the country.
Questions & Answers
Q.Why has CU decided to launch its own parcel delivery service?
Why has CU decided to launch its own parcel delivery service?
CU established BGF Post to differentiate its parcel service from those offered by other convenience store chains. This move allows them to operate independently rather than through a joint venture.
Q.What was CU’s previous arrangement for parcel delivery services?
What was CU’s previous arrangement for parcel delivery services?
CU previously operated CVS Net, which was a joint parcel service shared with GS25 convenience stores. With the launch of BGF Post, CU is now independent.
Q.How will GS25 manage its parcel service now that CU has launched BGF Post?
How will GS25 manage its parcel service now that CU has launched BGF Post?
Following CU's independent launch of BGF Post, GS25 intends to operate the CVS Net parcel service on its own. This indicates a separation of their previous joint venture.
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