The Top 10 Supermarkets in South Korea in 2024

Overview of the South Korean Retail Sector

South Korea’s retail market is estimated to be worth US$553.92 billion in 2024, and is expected to grow to US$730.49 billion by 2029, at a CAGR of 5.68%. Within the retail space, the country’s supermarket sector is a dynamic and rapidly evolving landscape, reflecting the country’s robust economic growth and shifting consumer preferences. In 2021, the market size for hypermarkets and supermarkets in South Korea was approximately KRW51.5 trillion (US$38 billion), with supermarkets and hypermarkets contributing almost equally to this figure. This sector is characterized by a high degree of competition and innovation, driven by major players such as E-Mart, Lotte Mart, and Homeplus.

In recent years, the rise of convenience stores and e-commerce has significantly altered the retail landscape. Convenience store revenue grew from US$5.8 billion in 2010 to US$24.7 billion in 2021, reflecting consumers' increasing preference for convenience and proximity. E-commerce now accounts for 41% of total retail sales in South Korea, the highest share globally, driven by platforms like Coupang and Market Kurly.

Notable trends in 2024 include the continued growth of the home meal replacement (HMR) market, expected to reach approximately KRW5 trillion (US$3.7 billion), and the expanding role of retail media networks. Additionally, sustainability is gaining prominence, with consumers showing a greater willingness to pay for environmentally friendly products.

Looking ahead, retailers are expected to innovate in areas such as online delivery, premium product offerings, and in-store experiences through ongoing investments in technology and infrastructure.

Grocery Retail Landscape in South Korea

Types of Grocery Stores in South Korea

There are various types of grocery channels other than supermarkets in South Korea catering to different shopping preferences.

• Supermarkets: These stores offer a wide range of products, including fresh produce, meats, household items, and more. Major chains like Emart, Homeplus, and Lotte Mart dominate this category, providing convenient shopping with competitive prices.
• Hypermarkets: Hypermarkets are large retail spaces that combine a supermarket with a department store. These stores, such as Emart and Lotte Mart, offer groceries alongside clothing, electronics, and home goods, making them a one-stop shop for many consumers.
• Convenience Stores: Ubiquitous in South Korea, convenience stores like GS25, CU, and 7-Eleven are found on almost every corner. They are open 24/7, offering quick access to snacks, beverages, and essential items, perfect for last-minute needs or late-night cravings.
• Traditional Markets: These open-air markets, such as Namdaemun and Gwangjang, are deeply rooted in Korean culture. They offer fresh produce, seafood, meats, and a variety of street foods, often at lower prices than supermarkets, while also providing a unique cultural experience.
• Local Marts: Smaller than supermarkets and hypermarkets, local marts are neighborhood stores that offer daily necessities. They are usually family-owned and offer a more personal shopping experience with fresh local produce, meat, and dairy products.

Top Consumer Trends in South Korean’s Grocery Landscape

Consumer trends in South Korea's grocery sector are evolving rapidly, driven by a blend of convenience, health consciousness, and technological adoption. In 2024, several key trends are shaping the market.

• Convenience is paramount for South Korean consumers. There is a noticeable shift from traditional home-cooked meals to prepackaged, partially cooked, and ready-to-eat meals. In 2022, the home meal replacement market was projected to reach about KRW5 trillion (US$3.7 billion), doubling from five years prior. Additionally, meal kits have become a premium offering, popular among higher-income groups and available in department stores and offline restaurants​​.
• Health and Sustainability are increasingly influencing purchasing decisions. South Koreans show a higher willingness to pay for healthier and environmentally friendly products with minimal packaging. This trend is driving retailers to launch products with less sugar, fewer artificial ingredients, and more nutrients​​.
• E-commerce and mobile channels continue to grow, especially among older demographics. By 2021, online shopping accounted for over 41% of total retail sales, the highest globally. This growth is particularly pronounced in grocery e-commerce, driven by next-day delivery services and the preference for mobile shopping among the elderly​​.

South Korea is also a significant global food market due to its high import levels. The country imports substantial quantities of food, with major imports including grains, beef, pork, and various fruits. This reliance on imports underscores the importance of South Korea as a market for global food producers and retailers aiming to expand their footprint​.

Methodology for Calculating the Top Supermarkets in South Korea

GourmetPro's network of food and beverage experts collaborated extensively to compile the list of the 10 biggest supermarkets in South Korea. They used a combination of publicly available data alongside their own expertise. The ranking considered key factors, including number of stores, annual revenue, geographical reach, as well as company ownership. This comprehensive approach ensures a well-rounded and accurate representation of South Korea’s leading supermarket chains.

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The Top 10 Supermarkets in South Korea in 2024 According to Experts

10 - Costco Korea

• Number of stores across South Korea: 18
• Parent company: Costco Wholesale Corporation
• Locations present in: Major cities
• Annual revenue: $2.2 billion (2023)
• Headquarters: Seoul, South Korea (Local headquarters)
• Owner of the supermarket: Costco Wholesale Corporation
• Whether local or foreign owner: Foreign

Costco Korea, a branch of the American wholesale retailer, offers a wide range of bulk products at competitive prices. They are popular for their international products and premium offerings. Unique products include bulk groceries, imported goods, and exclusive Kirkland Signature items.

9 - Nonghyup Hanaro Mart

• Number of stores across South Korea: 2,200
• Parent company: National Agricultural Cooperative Federation (Nonghyup)
• Locations present in: Nationwide
• Annual revenue: $2.5 billion (2023)
• Headquarters: Seoul, South Korea
• Owner of the supermarket: Nonghyup
• Whether local or foreign owner: Local

Nonghyup Hanaro Mart focuses on providing high-quality agricultural products directly from local farmers. They are known for their fresh produce and support of local agriculture. Unique offerings include a wide range of organic and locally sourced products.

8 - Lotte Super

• Number of stores across South Korea: 300
• Parent company: Lotte Group
• Locations present in: Nationwide
• Annual revenue: $2.7 billion (2023)
• Headquarters: Seoul, South Korea
• Owner of the supermarket: Lotte Group
• Whether local or foreign owner: Local

Lotte Super, part of the Lotte Group, offers a wide range of groceries and household items. They emphasize fresh produce and competitive pricing. Unique products include a variety of Lotte-branded snacks and beverages.

7 - Emart24

• Number of stores across South Korea: 6,500
• Parent company: Shinsegae Group
• Locations present in: Nationwide
• Annual revenue: $3.2 billion (2023)
• Headquarters: Seoul, South Korea
• Owner of the supermarket: Shinsegae Group
• Whether local or foreign owner: Local

Emart24, a convenience store chain under the Shinsegae Group, focuses on providing premium convenience store experiences. They are known for their high-quality products and stylish store design. Unique offerings include gourmet ready-to-eat meals and an extensive selection of wines.

6 - 7-Eleven

• Number of stores across South Korea: 11,000
• Parent company: Lotte Corporation
• Locations present in: Nationwide
• Annual revenue: $5.8 billion (2023)
• Headquarters: Seoul, South Korea
• Owner of the supermarket: Lotte Corporation
• Whether local or foreign owner: Local (Franchise of Japanese-American brand)

7-Eleven in South Korea offers a wide array of convenience products and services, including bill payment and ticket booking. They are known for their innovative product offerings and frequent promotions. Unique products include exclusive snacks and seasonal items.

5 - CU

• Number of stores across South Korea: 13,000
• Parent company: BGF Retail
• Locations present in: Nationwide
• Annual revenue: $6.1 billion (2023)
• Headquarters: Seoul, South Korea
• Owner of the supermarket: BGF Retail
• Whether local or foreign owner: Local

CU is another major convenience store chain offering a variety of products and services, including ATMs and parcel delivery. They focus on customer convenience and accessibility. Unique products include a range of Korean snacks and beverages, as well as international brands.

4 - GS25

• Number of stores across South Korea: 14,000
• Parent company: GS Retail
• Locations present in: Nationwide
• Annual revenue: $6.4 billion (2023)
• Headquarters: Seoul, South Korea
• Owner of the supermarket: GS Group
• Whether local or foreign owner: Local

GS25 is one of the largest convenience store chains in South Korea, known for its extensive network and convenient locations. GS25 stands out for its diverse range of ready-to-eat meals and snacks. They are also focusing on expanding their range of fresh produce and health-conscious products.

3 - Homeplus

• Number of stores across South Korea: 110
• Parent company: MBK Partners
• Locations present in: Nationwide
• Annual revenue: $9.7 billion (2023)
• Headquarters: Seoul, South Korea
• Owner of the supermarket: MBK Partners
• Whether local or foreign owner: Local

Homeplus is a leading hypermarket chain offering a wide range of products from groceries to household items. They emphasize convenience and competitive pricing. Unique offerings include a wide selection of imported goods and an excellent loyalty program for frequent shoppers.

2 - Lotte Mart

• Number of stores across South Korea: 125
• Parent company: Lotte Group
• Locations present in: Nationwide
• Annual revenue: $10.3 billion (2023)
• Headquarters: Seoul, South Korea
• Owner of the supermarket: Lotte Group
• Whether local or foreign owner: Local

Lotte Mart is part of the larger Lotte Group conglomerate and offers a wide variety of goods, including groceries, electronics, and clothing. Lotte Mart's unique positioning lies in its competitive pricing and frequent promotions. They are also known for their private label products, which offer high quality at affordable prices.

1 - E-Mart

• Number of stores across South Korea: 160
• Parent company: Shinsegae Group
• Locations present in: Nationwide
• Annual revenue: $15.8 billion (2023)
• Headquarters: Seoul, South Korea
• Owner of the supermarket: Shinsegae Group
• Whether local or foreign owner: Local

E-Mart is South Korea’s largest supermarket chain, renowned for its extensive range of products from groceries to electronics. E-Mart's notable initiatives include their No Brand stores, which offer high-quality products at competitive prices. Unique products include exclusive K-Pop merchandise and their extensive wine collection.

FAQs

1. What are the different types of grocery channels in South Korea?

In South Korea, grocery retail outlets can be categorized into five main types: supermarkets, hypermarkets, convenience stores, traditional markets, and local marts. Supermarkets and hypermarkets like Emart and Lotte Mart offer a wide range of products, from groceries to electronics. Convenience stores, such as GS25 and CU, provide quick access to snacks and essentials and are found on almost every corner. Traditional markets, such as Namdaemun and Gwangjang, offer fresh produce and local delicacies. Local marts are smaller, family-owned stores offering daily necessities and fresh local produce.

2. What is the size of South Korea's food retail market?

The food retail market in South Korea is substantial and highly competitive. In 2021, the combined market size of supermarkets and hypermarkets was approximately KRW51.5 trillion, with supermarkets contributing KRW25.8 trillion and hypermarkets KRW25.7 trillion. This market is characterized by rapid growth in e-commerce and convenience stores, reflecting changing consumer preferences towards convenience and online shopping. With the ongoing expansion and innovations in the sector, the market size is expected to continue growing in the coming years.

3. What is the most popular supermarket in Korea?

Emart is widely regarded as the most popular supermarket in South Korea. As the largest retailer, Emart boasts an extensive network of stores nationwide, offering a diverse range of products from groceries to electronics. Its competitive pricing, frequent promotions, and innovative offerings, such as the No Brand line, have earned it a strong customer base. In addition, Emart also has an extensive online shopping platform, solidifying its position as the leading supermarket in the country.

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