MyNews Is Bringing South Korea's Popular Convenience Store CU To Malaysia
Ah, so many Korean goodies to look forward to!
By Laila Zain — 12 Oct 2020, 06:10 PM
MyNews Holdings Bhd is bringing South Korean convenience store, CU, to Malaysia
MyNews revealed on Monday that its unit MYCU Retail Sdn Bhd had signed a licensing agreement with BGF Retail, South Korea's largest convenience store operator and owner of CU.
CU was founded in 2012. Since then it has grown to roughly 15,000 CU stores in South Korea, and is known as a "Korean style convenience store".
The MyNews group aims to open its first set of CU stores in Malaysia by early 2021, with the goal to launch 500 stores in five years' time
Starting with bigger cities in Klang Valley, the group plans to open 30 to 50 CU stores to monitor their performance.
The licensing agreement between MyNews Holdings Bhd and BFG Retail Co. Ltd. is 10 years long, with an additional 10-year renewal term.
And of course all the Korean snacks and everyday staples you can expect from a convenience store
