FamilyMart widens lead in convenience store race
Published: 14 Oct. 2008, 00:53
A ribbon-cutting ceremony yesterday in front of FamilyMart’s 4,000th branch. Provided by the company
The Japanese chain, owned by Bokwang in Korea, launched its 4,000th branch yesterday in Seoul’s Jongno District.
The first Korean branch opened in 1990 in Seoul’s Songpa District. FamilyMart in Korea has had a total of 4.2 billion customers since its opening, according to the company.
“By 2010, we plan to have 5,000 branches and continue leading Korea’s convenience store industry,” said Baeok Jeong-gy, head of Bokwang FamilyMart.
GS25, the No. 2 convenience store, has 3,250 branches in Korea.
FamilyMart’s annual sales per branch are an average 420 million won ($339,257). Around 280 million samgakgimbap, or packaged triangular seaweed and rice wraps, have been sold in Korean FamilyMart branches since its launch.
The company said that if all these wraps were laid side by side, the total length would equal 19 round trips from Seoul to Busan, around 16,200 kilometers (10,000 miles). FamilyMart has branches in Kaesong Industrial Complex, at Mount Kumgang and on Ulleung Island.
By Cho Jae-eun Staff Reporter [jainnie@joongang.co.kr]
with the Korea JoongAng Daily
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