Eugene to take over Hi Mart

Eugene Group is to take over Hi Mart, the nation's largest consumer electronics retailer, for W1.95 trillion.

In a public statement to confirm the buy-out today, the company said“this takeover of Hi Mart will not only promote the brand image of Eugene Group, but it also offers an opportunity for us to let our management capability be clearly recognized in the market.”

As for the reason to be chosen as a undertaker,“not only price, but also our management ability to grow Hi Mart in a stable manner and promise to secure employment are largely considered ," said the company.

Hi Mart takes up 17 per cent in the consumer electronics retailing market and expects to achieve more than W2 trillion in sales and W185 bn in EBITDA(Earning Before Interest Tax Depreciation Amortization) this year.