Korean firm to set up chain store

Korea's largest
retailer Shinsegae is to invest US$60m to set up an F-Mart Supercenter chain store in
Tianjin. The venture will be the first step towards a long-term strategic partnership with
China's Taida Group, and together they will establish six large super-markets in the city by
2006. Shinsegae said it had great confidence in the Chinese market and it hoped E-Mart
would expand its chain store operation to the whole country.