E-Mart, South Korea's largest retailer, has signed a contract with Suzhou Municipal Government for opening its first supermarket there.
E-mart plans to invest US$30 million dollars in this project which will be the first E-mart in Jiangsu Province where E-mart plans to open three stores, two of which will be located in the downtown area while the third one is in Zhangjiagang.
The president of E-mart's eastern China region says that they chose Suzhou to be the base of this store because of the close ties between Suzhou and South Korea. In addition, the competition in Suzhou is less fierce than that in Shanghai, where E-mart already has 10 stores.
The first E-mart in Suzhou is going to be open at the end of 2007.