KK Group operates 610 KK Mart convenience stores in Malaysia and owns other businesses, such as hotels and resorts.
Yonhap news agency quoted GS Retail, the owner of GS25, as saying the two companies will open their first GS25 convenience store in Malaysia next year, under a “master franchise deal” where KK Group pays royalty fees to operate the stores.
Their goal is to expand the number of GS25 stores to 500 over the next five years, it said.
Malaysia is GS25’s third entry overseas, after Vietnam and Mongolia.
Southeast Asia is seen as a promising market for local convenience store operators due to its relatively young population and rapidly growing fast-moving consumer goods sector.
BGF Retail, South Korea’s largest convenience store chain by the number of stores, recently opened its 100th CU store in Perak and plans to increase the number to 500 within the next five years.
Emart 24, the fourth-largest local player by the number of stores, also operates 20 outlets in Malaysia.
Stay current - Follow FMT on WhatsApp, Google news and Telegram