Goldman Sachs Eyes Investors for Nvidia’s $500 Billion AI Financing Plan 
Aviva First-Half Operating Profit Jumps 24% as Direct Line Deal Boosts Growth 
Stripe, Advent Reportedly Pursue $53 Billion PayPal Takeover 
China Automakers Accelerate Global Expansion as Domestic Car Sales Slump 
S&P 500 Retreats From Record High as AI Stocks Slide, Retail Sales Disappoint 
Strait of Hormuz Shipping Near Standstill After New Vessel Attacks 
Asian Stocks Rise as AI Chip Rally Lifts South Korea, Japan 
Ford to Move Some Lincoln Production From China to U.S. in 2030 
Paramount Weighs CNN Sale as $110B Warner Bros. Discovery Deal Faces Antitrust Fight 
Gold Prices Slip From Two-Month High as Inflation and Fed Outlook Drive Markets 
KOSPI Rebounds 20% as Samsung, SK Hynix Lead South Korea Stock Rally 
Nvidia Eyes $3 Billion Investment in SoftBank-Backed AI Data Center 
SMIC Shares Rally as Q2 Profit Surges 262% on Strong Chip Demand 
Asian Currencies Edge Higher as Soft US Inflation Weighs on Dollar 
Thyssenkrupp Raises 2026 Profit Outlook as Steel and Materials Units Strengthen 
Lenovo Revenue Surges 43% as AI Demand Drives Record First-Quarter Growth 
Trump Imposes New Tariffs on Drone Imports Over US Security Concerns 
Add as a preferred source on Google
BGF Retail's South Korean convenience store brand CU is breaking ground in Central Asia, partnering with local firm Shin-Line to launch its first Kazakhstan store next year amidst plans for wider expansion.
CU is expanding its business overseas, and Kazakhstan is the latest country to be added to its portfolio. BGF Retail formally announced on Tuesday, June 20, that it is bringing its popular convenience store brand to the said nation located in Central Asia.
According to The Korea Herald, locals can expect to see the first CU store in their region within the first half of 2024. Starting from that point, the plan is to establish more stores and set up about 500 branches across the country in the next five years.
Kazakhstan will be the very first Central Asian territory to open CU stores. The collaboration between BGF Retail and Kazakhstan's Shin-Line was sealed this week through the signing of a memorandum of understanding (MOU) for a master franchise that was held in Seoul.
Under the contract, the operator of CU convenience stores will grant Shin-Line with rights to build and operate CU outlets, and in turn, BGF Retail will get royalties from the operations.
This is also a good time for the Kazakh firm to have the partnership because it is currently in the midst of expanding its business as well.
"Shin-Line has a competitive edge in handling temperature-sensitive products, particularly for its cold chain logistics and broad distribution network throughout Central Asia," a BGF Retail official said in a statement.
"The Kazakhstani convenience store market has great potential for the country's increasing purchasing power," the Korean firm added.
The Korea Economic Daily reported that the deal between BGF Retail and Shin-Line is a strategic move for the two sides since they are both working on their respective expansions. In any case, the franchise agreement will allow Shin-Line to be in complete control. It will single-handily build, operate, and manage the CU store business in Kazakhstan.
Photo by: CU Website
