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GS Retail to establish logistics affiliate

All Headlines 18:24 November 09, 2017

SEOUL, Nov. 9 (Yonhap) -- GS Retail Co., a major convenience store operator here, said Thursday it will set up a separate logistics company as part of its efforts to secure a new growth engine.

The company said its boardroom decided earlier in the day to establish GS Networks, whose 100-percent stake will be held by GS Retail, with the plan to officially launch it in January.

"We decided to set up GS Networks to secure competitiveness via specialization amid rising importance of logistics service," the company said in a press release.

It currently operates a department in charge of distribution work for its brands, such as the convenience store chain GS25 and hypermarket chain GS Supermarket.

GS Retail to establish logistics affiliate - 1


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