Wholly-Owned NS Shopping Wins Homeplus Express Bid, Fueling Harim Group’s Retail Expansion in South Korea
Harim Group, South Korea’s largest poultry processor, is significantly advancing its retail strategy after its wholly-owned subsidiary, NS Shopping, was selected as the preferred bidder for Homeplus Express. This acquisition of the Homeplus supermarket chain marks a pivotal step in Harim’s ambitious plan to forge an integrated food-to-retail business empire.
Homeplus officially announced the preferred bidder selection on Wednesday, confirming its intention to quickly finalize negotiations on the detailed terms and proceed to a definitive agreement. Homeplus, currently undergoing court-led rehabilitation, is aiming for a sale price of 300 billion won ($203 million) for Homeplus Express, which represents the minimum funding essential for its stabilization process.
Despite Harim Group not submitting a letter of intent during the initial preliminary bidding stage, industry analysts suggest its eleventh-hour entry is strategically sound. The conglomerate stands to generate substantial synergy by integrating retail capabilities with its extensive portfolio of existing livestock products, processed food items, and popular meal kits.
“Our participation in the Homeplus Express takeover is designed to bolster our online and offline business capabilities, leveraging our food expertise and established retail network,” stated NS Shopping. “By merging Homeplus Express’ nationwide offline presence with our current businesses, including TV home shopping, data home shopping, and online/mobile shopping malls, we can significantly enhance our fresh grocery offerings and expand customer touchpoints.”
NS Shopping further emphasized that Homeplus Express’ existing partners will gain new avenues for growth, as NS Shopping’s diverse online channels will provide an additional platform to market and sell their products.
Homeplus Express boasts approximately 290 stores across South Korea, with a substantial 80 percent concentration within the bustling Greater Seoul area. These stores operate a sophisticated quick commerce system, capable of delivering products to customers in roughly one hour.
This potential acquisition of Homeplus Express represents Harim Group’s second venture into the “super supermarket” (SSM) sector, a segment dominated by large corporate-run franchised supermarkets. Key players in Korea’s SSM market include prominent names like E-mart, Lotte Mart, and Homeplus itself.
Previously, NS Shopping launched its own SSM, NS Mart, in 2009. However, due to intense competition, increasingly stringent regulations on new store openings, and persistent low profitability, the retail business – comprising 23 stores and a logistics center – was sold to E-mart for 45 billion won in 2012.
“Harim’s renewed attempt to acquire Homeplus Express clearly demonstrates the poultry processor’s strong commitment to expanding its direct reach to consumers,” commented an official from a leading retail company.
“With NS Shopping’s robust financial performance, Harim will need to make strategic decisions to solidify its value chain, spanning from food production to direct retail. Given the evident struggles among established offline supermarkets, Harim must strategically leverage its core food business to gain a competitive edge in the market.”
NS Shopping reported impressive sales of 612.1 billion won and an operating profit of 52.1 billion won last year. Its cash and short-term financial instruments stood at a healthy 137.1 billion won at the close of 2025.
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