Homeplus Focuses on Stores, People, and Environment... Accelerates Business Investment

Homeplus Special Mokdong Branch.

[Asia Economy Reporter Lim Chun-han] Homeplus announced on the 12th that it will make full-scale business investments focusing on stores, people, and the environment using funds obtained through asset securitization conducted last year targeting stores such as Ansan Branch, Daegu Branch, Daejeon Dunsan Branch, and Daejeon Tanbang Branch.

Homeplus will convert an additional 10 stores nationwide into Homeplus Special stores by the end of this year. In particular, by the end of July, it plans to open the Wonju Branch and Incheon Cheongna Branch as Homeplus Special stores, introducing the first warehouse discount store in Gangwon Province. Subsequently, 1 to 3 stores will be sequentially converted and opened each month until the end of the year. Regionally, major stores in the metropolitan area as well as stores located in the Yeongnam and Gangwon regions are expected to be included in the conversion targets.

Homeplus Special is a new concept distribution model that allows customers to purchase everything at once, from small-sized products sold at traditional large marts to bulk products handled by warehouse discount stores. It is a hybrid store that complements the disadvantages of warehouse discount stores, which, despite having the assortment and prices of the rapidly growing warehouse discount stores, do not allow customers to buy all necessary products in one place or have quantities that are too large.

Homeplus is conducting a public recruitment of new college graduate buyers in the product division for the first time in three years since 2017. This is a decision to demonstrate the strength of a young distribution company by deploying talent who keep up with the latest trends in the rapidly changing distribution industry to the forefront of product sourcing.

It also has a public interest purpose to help create jobs for job seekers who are experiencing severe employment difficulties due to the prolonged COVID-19 pandemic. In 2019, Homeplus converted approximately 15,000 contract workers, the largest scale among domestic companies, into full-time employees.

Homeplus will also strengthen its ESG (Environmental, Social, and Governance) management activities. Beyond the positive functions of distribution such as good quality products, safe food, and stable employment, the company aims to become the most preferred and trusted distribution company by gathering its capabilities so that all customers can live in a healthy environment, serving as a connection channel for each household and local community.

Homeplus plans to further develop its own environmental education programs linked with cultural centers located in major stores nationwide and strengthen environmental education activities for children. Homeplus’s social contribution foundation, the e-Paran Foundation, plans to hold the ‘e-Paran Children’s Environmental Drawing Contest’ in cooperation with the United Nations Environment Programme (UNEP) Korea Committee in the first half of this year.

A Homeplus official said, “We will expand the company’s social responsibility to the environmental field and engage in environmental management to create a better future,” adding, “We promise our customers that through active investment in environmental management, we will enhance corporate value and become a company that leads and practices saving both the environment and the economy.”