Today's Date:   Thursday, February 28 2013

1. MARKETING ISSUES

Rumor Says “Home Plus is Offered for Sale” … Home Plus Denies [Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2013022675001

Summary: According to industry sources, Tesco UK has offered Home Plus, the second largest hypermarket store chain in Korea, in the acquisition market.  Offer price is estimated at 5 trillion won (about $4.7 billion).  It is reported that business of Home Plus has been seriously restricted recently largely due to introduction of regulations that restrict operation of large-scale retail stores.  Home Plus denied the rumor and added that some of the stores and warehouses might be offered for “sales & lease back” deal to secure some cash flow for investment for new stores.

2. OTHER MISCELLANEOUS ISSUES

KINTEX will have Its First Hotel Open Next Month [Korean, OSY]

http://www.hankyung.com/news/app/newsview.php?aid=2013022675381

Summary: Daemyung Leisure Industry announce that its new hotel, MVL KINTEX, will open on March 20.  This will be the first hotel open in the KINTEX district.  MVL KINTEX is a five star hotel that has 377 rooms, including 34 suite rooms, and a convention center that can host large scale events.