S. Korea’s GS Retail to establish logistics company next year

2017.11.10 15:54:18 | 2017.11.10 15:54:38

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GS Retail Co., a retail unit of South Korean conglomerate GS Group, will establish a logistics arm in January to facilitate distribution to its retail outlets.

Its board on Thursday approved a plan to set up GS Networks. Previously a business division of GS Retail has been in charge of distribution to retailers GS25 convenience stores, GS Supermarkets and GS Fresh online shopping mall.

A separate entity would be established to add expertise and competitiveness, an unnamed GS Retail official said. GS Retail will fully own the new company.

By Lee Yoo-jin and Lee Ha-yeon

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