South Korea’s convenience store, CU has launched its first Malaysian branch and maiden store at Centrepoint Bandar Utama in Petaling Jaya.
Operated by MyCU Retail Sdn Bhd, a wholly subsidiary of MyNews Holdings Berhad, CU will open 500 stores within the next five years of operations. A with a second store will open soon in the Klang Valley area.
“The launching of this first CU store is a significant milestone for MyNews Holdings, and we are excited to open 500 more stores within the next five years,” Founder and Group Chief Excutive Officer (CEO) of MyNews Holdings Berhad, Dang Tai Luk said.
In line with the changes brought on by the outbreak, company has started transitioning their stores to focus more food-centric offerings, for instance introducing MABU in MyNews
The Ambassador of the Republic of Korea in Malaysia, His Excellency, Lee Chi-Beom present at the launch highlighted that bringing both the Korean wave and the halal industry together has helped increase cooperation in the culture and consumer goods sectors.
“The grand opening of CU retail store marks a new milestone between South Korea and Malaysia, with the history of our bilateral cooperation,” His Excellency added.
Speaking on the total allocated investments for the arrivals of CU in Malaysia, the CEO of Retail for MyNews, Low Choi Hoon has said that it will be enough for them to break even within two years of operations.
Additionally, MyNews holdings Berhad will not see another international partnership and collaboration in the future as they want to localise their offerings first, with the likes MyNews and CU, and focus more on convenience.
CU stores’ items will be halal as it operates under the same factories that produces for MyNews.
“We are making it as halal as it gets even though we are tempted to provide more Korean non-halal products. We are determined to follow Malaysia’s Halal certificate and accommodate Malaysians with halal Korean foods,” the CEO said.
