Homeplus said Friday it had signed a strategic partnership with E&J Gallo, a US-based winery, to introduce a wide range of US wines to the Korean market.
According to the hypermarket chain, the two companies held an online joint business plan signing ceremony, to agree on establishing a stable distribution network.
Founded in 1933, E&J Gallo stands as one of the biggest wineries in the US, Homeplus said.
E&J Gallo currently has 75 affiliate companies and runs 120 brands, exporting them to about 110 countries around the globe. Homeplus said the winery currently supplies wines to South Korea, including the brands Copper Ridge and Livingstone.
From the partnership, Homeplus said it seeks to strengthen its wine lineup by introducing trendy products, and gaining price competitiveness.
“Wine is becoming a trend in the domestic market, and so not only European but also US wines are gaining popularity here,” an official from Homeplus said.
“From the joint business plan, we will be able to supply various US wines to Korean customers at cheaper prices.”
By Jo He-rim (firstname.lastname@example.org