South Korea’s Largest Retailer Joins Hands With Sinar Mas Land in Indonesia
South Korea’s largest retailer, GS Retail, opened its first supermarket in Cibubur, East Jakarta, on Friday (07/10) in partnership with Indonesian property developer Sinar Mas Land, to target the country’s upper-middle class.
“We decided to choose Legenda Wisata for GS Retail’s first supermarket because Cibubur is home to middle- and high-income families,” GS Retail senior executive Won Yong Kim said in a statement.
The supermarket offers a wide range of food, household, electronic, beauty and hygiene products, as well as the popular South Korean bakery shop Tous le Jours and Indonesian café Bengawan Solo Coffee.
The 2,913 square-meter supermarket, which is located inside the Legenda Wisata housing estate, was constructed by Sinar Mas Land.
In October 2014, Sinar Mas Land was assigned to build a megastore for one of the Southeast Asia’s largest retailers, Courts Asia Limited, in Kota Harapan Indah residential estate in Bekasi, West Java, and in January 2015, to build another in BSD City in Tangerang, Banten.
Established in 1971, GS Retail has 11,000 convenience stores and 290 supermarkets in South Korea. It booked $5.7 billion in revenue last year.
The company has had a presence in Indonesia since March 2014.