SK group buys 16.3% stake of Vietnam’s largest retailer

Anh Kiet

Apr 06, 2021 / 05:46 PM

VinCommerce operates about 2,300 convenience stores and supermarkets across Vietnam, accounting for 50% of the country's retail market share.

SK Group, South Korea’s third-largest conglomerate, will spend US$410 million to acquire a 16.3% stake in VinCommerce, a retail subsidiary of Masan Group.

SK Group's headquarters in central Seoul. Photo: vietnampropertyblog.com

The South Korean group said on April 5 that it will collaborate with the Masan Group to invest in retail, logistics and electronic payment systems to expand VinCommerce's online channels to be the fast-growing e-commerce sector in Vietnam and the Southeast Asian market as well.

The group plans to accelerate investments in other strategic interest areas such as online and offline distribution, logistics, and electronic payment in Vietnam via its strategic partnership with Masan Group, said SK.

VinCommerce operates about 2,300 convenience stores and supermarkets across Vietnam, accounting for 50% of the country's retail market share.

In December 2019, Masan Group took over an 83.7% stake in VinCommerce from Vingroup, the largest conglomerate in Vietnam.

SK Group established an investment unit in Southeast Asia in August 2018 to explore growth opportunities in the region. The unit acquired 9.6% stake in Masan Group in October 2018 and 6.1% stake in Vingroup in May 2019.

Vingroup’s mega-resort project worth US$1.51 billion kicks off in Danang

31 Mar, 20:55

The project is expected to contribute to the development of Danang city and the central region.

Vingroup successfully manufactures ventilators for Covid-19 patients

28 Apr, 21:56

The first batch of Vingroup's ventilators for Covid-19 patients is expected to be delivered on May 15.

Vietnam OCOP Festival 2025 honors products as program marks nationwide development milestones

The festival aims to promote and honor outstanding OCOP products and producers and to reaffirm Hanoi’s leading role as the country’s “pacesetter” in the One Commune One Product (OCOP) program.

17 Dec, 07:06 PM

Vietnam posts five-year high FDI disbursement as investor confidence strengthens nationwide 2025

Despite global economic and geopolitical headwinds, foreign capital flows into Vietnam accelerated in 2025, with investment increasingly concentrated in high value-added sectors, highlighting the country’s growing appeal as a stable, long-term destination for investors.

16 Dec, 10:12 PM

VN-Index set for 2,200-mark next year: JP Morgan

Vietnam’s appeal goes beyond the upgrade, driven by major economic reforms that are lifting business and consumer confidence, as well as improving profit prospects over the next three to five years.

16 Dec, 03:35 PM

Vietnam to launch smart agriculture innovation center in Lang Son

The center is expected to bridge gaps in technology testing, connect farmers with researchers and markets and accelerate sustainable, high-tech agricultural development nationwide.

15 Dec, 07:28 PM

Hanoi urged to train 100,000 digital engineers through online academy

The Capital Strategic Technology Development Forum gathered a wide range of proposals from businesses, experts and investors on how Hanoi should shape its deep-tech development agenda in the coming decades with a long-term vision to 2045.

15 Dec, 07:16 PM

Inclusive innovation must give everyone equal voice, experts say at TECHFEST Vietnam 2025

Open innovation is becoming a cornerstone of Vietnam’s development strategy, as policymakers, experts and international partners emphasize people-centered collaboration to tackle inequality, climate change and urbanization through inclusive, technology-driven solutions showcased at TECHFEST Vietnam 2025.

14 Dec, 02:17 AM

Vietnam attracts $400 million in venture capital as tech startups surge

Vietnam’s startup ecosystem continues to expand rapidly, with strong venture capital inflows and fast growth in digital, AI and green technologies, reinforcing the country’s appeal to global investors.

13 Dec, 04:40 PM

Vietnamese policymakers push for early launch of gold exchange

A transparent gold exchange would not only offer a safe investment channel for the public but also provide a foundation for Vietnam to become a regional hub for jewelry manufacturing and exports.

12 Dec, 04:05 PM