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APR 14, 2013 - Yahoo! News

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Tesco's South Korean crown jewel flawed by new regulations

By Joyce Lee SEOUL (Reuters) - Tesco Plc finally managed to open a near-3,000 sq meter super store in South Korea, its largest market outside Britain, after a seven-month delay by agreeing not to stock 15 items including radishes, mangoes and some cuts of local beef. Big-box retailers in South Korea such as Tesco and Costco Wholesale Corp are reluctantly bowing to government demands aimed at protecting local merchants -- including plans to fine the super stores if they set up without the consent of nearby local merchants. There are signs that Seoul's new restrictions could scare off ... Read More

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