Carrefour's Exit from South Korea
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"The withdrawal of Carrefour from South Korea is mainly explained by a strategic decision by headquarters, especially because of the difficulty in acquiring a leading position in the near future."1
- Philippe Broianigo, CEO, Carrefour Korea, 2006.
"They (Carrefour and Wal-Mart) have struggled to find the economies of scale and to compete with groups like E-Mart, and they've struggled just as much with the back-of-house business as much as the front-of-house."2
- Morgan Parker, President, Taubman Asia3, 2006.
"Wal-Mart and Carrefour were not aggressive enough in expanding their networks in South Korea, once they lost the race, they could never catch up."4
- Koo Chang Gun, Retail Analyst, Korea Investment and Securities5, 2006.
Carrefour Bids Adieu to South Korea
According to Carrefour's top management, the exit from South Korea was a part of the company's plans to focus only on those markets where Carrefour was among the three leading retail chains.
1] "Carrefour Sells South Korean Business to E.Land
for 1.5 billion Euros,"www.channelnewsasia.com, April 28, 2006.
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