Shinsegae Group, the top retailer of the Republic of Korea (ROK), is expected to launch its first chain store E-mart in the Chinese capital, according to a letter of intent signed earlier this week.

Shinsegae signed a partnership agreement with a Hong Kong company on Tuesday to build an individual commercial complex for the upcoming E-mart store in the Wangjing residential area in northeastern Beijing, where Koreans living in Beijing densely assemble.

Sources with the company said that Shinsegae has taken two years to choose a favorable location for its first outlet in Beijing.

The company has previously opened several outlets in the Chinese cities of Shanghai and Tianjin. Its expansion plan in the China market has been set to open 50 E-Mart discount stores across the country by 2012.

The ROK retail giant boasts some 70 outlets in its home country, or 33 percent of the market share, far ahead of Carrefour and Wal-Mart, two of the world's largest retail giants.

Source: Xinhua