Emart24 Heads to Cambodia... Signs MOU for Third Overseas Expansion

Three-Party Agreement with Saison Group and Hallim Architecture Group
Goal to Open 100 Stores Within 5 Years

Emart24 announced on the 25th that it has signed a Memorandum of Understanding (MOU) to enter Cambodia, becoming the first domestic convenience store to do so.

At around 3 p.m. local time, Emart24 held a signing ceremony at the Fairfield by Marriott Phnom Penh in Cambodia, where a tripartite agreement was made between Emart24, Saison Group, and Hallim Construction Group. Going forward, Saison Group and Hallim Group plan to establish a joint venture for the convenience store business and then sign a formal contract with Emart24.

Saison Group in Cambodia started its food and beverage (F&B) business in 2010 and has since expanded into various sectors including distribution, agriculture, and construction. In particular, Saison Group’s major subsidiary, Pun Food, provided professional catering services at the Southeast Asian Games held in May this year, earning high recognition and trust within Cambodia. Hallim Construction Group is a one-stop comprehensive real estate service company that established a corporation in Cambodia in 2017 and has been actively involved in real estate development in Southeast Asia. Especially in March this year, it partnered with Saison Group to establish 'Hallim Cambodia' for real estate services and development.

Emart24 Store Exterior
Photo by Emart24

Emart24 plans to sign a master franchise agreement with the joint venture company formed by Saison Group and Hallim Group (tentatively named 'Emart24 Cambodia') and open its first store in the first half of next year. Subsequently, considering the local conditions in Cambodia during the early stages of the convenience store business, it aims to gradually expand to 100 stores within five years. A master franchise refers to a method where a franchisor contracts with a local company instead of directly entering overseas markets, and then sells the rights to operate franchise businesses within a certain area to those who wish to become franchisees.

Emart24 intends to target various overseas markets, using Cambodia as its third country of expansion. Previously, Emart24 entered Malaysia in June 2021 and Singapore at the end of last year.

An Emart24 official said, "We are very pleased to be able to promote our entry into Cambodia by partnering with Saison Brother Holdings, a solid local Cambodian company, and Hallim Construction Group, a one-stop comprehensive real estate service company. We plan to work together to successfully establish Emart24 in Cambodia, which has high growth potential, and continue to review and execute expansion into various other countries."

This content was produced with the assistance of AI translation services.