Korea FTC Approves NS Shopping’s Acquisition of Homeplus Express

Korea FTC Approves NS Shopping’s Acquisition of Homeplus Express

June 14, 2026 discoverhiddenusacom Business

The Fair Trade Commission (FTC) approved the acquisition of Homeplus Express by NS Shopping, an affiliate of the Harim Group, for 120.6 billion won on the 12th. The agency stated the decision supports the restructuring of Homeplus, which is currently undergoing rehabilitation proceedings, while maintaining a competitive environment within the retail market.

Did You Know? The Fair Trade Commission noted that Homeplus Express holds a market share of approximately 2% when including general supermarkets.

Why did the Fair Trade Commission approve the acquisition?

The FTC granted approval after determining that the 120.6 billion won transaction poses little risk of restricting competition. According to the agency, the deal was subject to a fast-track review because it is a key component of the Homeplus rehabilitation plan.

The agency believes the move supports the recovery and growth of a competitive operator. This comes as the retail sector faces rapid restructuring due to changing consumer patterns and the expansion of online distribution, the FTC added.

How does this affect market competition?

The FTC analyzed the merger and identified 11 vertical integrations involving chicken, pork, home meal replacements (HMR), and pet food. It also identified two mixed integrations between offline distribution networks and NS Shopping’s existing TV home shopping and online mall operations.

NS Shopping Acquires Homeplus Express / Yonhap News TV

Despite these integrations, the FTC found that most market shares remain low and numerous competitors exist. In the chicken segment—a core business for Harim Group—the agency noted that Homeplus Express has a lower market share than other Super Supermarket (SSM) operators.

Expert Insight: Samantha Carter notes that this move allows Harim Group to bridge the gap between its production capabilities and the end consumer. By acquiring an offline footprint, Harim can potentially streamline its vertical integration from livestock processing to direct retail, provided it can scale the 2% market share of the acquired assets.

What happens next for Harim and Homeplus?

NS Shopping may use the acquisition to expand the Harim Group’s distribution reach. The group already maintains a vertical system for the production, processing, and distribution of poultry, pork, and duck.

Homeplus could see an acceleration in its restructuring process through this divestiture. The FTC indicated it will continue to fast-track mergers that promote market innovation, though it may respond strictly to any combinations that strengthen monopoly power or restrict competition.

Frequently Asked Questions

How much did NS Shopping pay for Homeplus Express?

The acquisition price was 120.6 billion won.

Why was this specific merger reviewed quickly?

The Fair Trade Commission conducted a fast-track review because the transaction is part of the rehabilitation plan for Homeplus.

Does Harim Group dominate the supermarket market with this deal?

No. According to the FTC, the market share of Homeplus Express is about 2% when general supermarkets are included, and it is lower than other competing SSM operators in the chicken sector.

How do you think the shift toward online shopping is changing the role of physical supermarkets?