Today's Date: Thursday, February 28 2013

For Coverage: February 26-28, 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.

The information in this report was compiled by the Agricultural Trade Office (ATO) at the U.S. Embassy in Seoul, South Korea. The press summaries contained herein do NOT reflect USDA, the U.S. Embassy, or other U.S. government agency official policy or view point. U.S. food exporters can learn more about market opportunities in South Korea by reviewing ATO Seoul's Exporter Guide and other reports available at www.fas.usda.gov by clicking on "attaché report".

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