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KFTC urged to limit new convenience store openings

( October 11, 2016, 04:51 GMT | Insight) -- Yoo Eui-dong, a South Korean legislator from the country's ruling Saenuri party has said that the Korea Fair Trade Commission should prepare measures to improve competition in the convenience store chain industry, Yonhap News reports. Yoo Eui-dong, a South Korean legislator from the country's ruling Saenuri party has said that the Korea Fair Trade Commission should prepare measures to improve competition in the convenience store chain industry, Yonhap News reports. Last year, a total of 5,508 new stores were opened across the nation, raising concerns over a potential oversupply of such shops in the domestic market. The majority of the stores are operated by three major companies: GS25, CU and 7-Eleven. Yoo said that while the numbers may seem to reflect a boom in the industry, such a sharp gain may have an adverse impact on the livelihoods of shop owners.  ...

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