President Do Seong-hwan of Homeplus.(Photos:Homeplus) 

President Do announces the hyper market chain’s plans to change its operation by offering discount prices from 10 percent to as much as 30 percent on 500 fresh foodstuffs at its stores across the country on March 10 at Plaza Hotel in Seoul.

President Do Seong-hwan of Homeplus said 2015 will be the first year of a new era for the supermarket chain when it comes to winning the trust of its customers. To achieve this goal, Homeplus will sell over 500 kinds of fresh food items 10 percent to 30 percent lower than those of its rivals, CEO Do said at a media session on March 10 at Seoul Plaza. He announced a major reform plan will involve four major areas of the operation, ranging from prices, product quality and sales stands to services.

The supermarket chain has come to a point where it had to make major reforms in order to regain its public reputation, which has been growing worse due to a number of incidents. Some in particular involved winners of coupons and leaks of customers’ private data. 

Other challenging factors include mandatory holidays for large supermarkets and a steady loss of loyal customers. 

Under the reform plan, the supermarket chain will select around 500 fresh food items and sell them at prices ranging from 10 percent to 30 percent lower than its rivals from March 10. The company expects its losses from the special discount sale would come to around 100 billion won. There is no end-date and the sale will go on throughout the year. 

The price cuts will help ease the financial burden on ordinary consumers. It will also help farmers. 

Do said the supermarket chain’s campaign will also help the national economy and make contribution to society.

The large supermarkets were forced to close their doors one Sunday per month over the last four years, Do their sale of fresh food items has fallen around 20 percent.

Homeplus will try to improve the quality of its fresh foodstuffs.  

Homeplus is ready to include top-grade three-layer pork among the fresh foodstuffs it will sell at a discount. 

He said the store will continue to sell high quality apples, bananas and other fruits.  and freshness.  

 Do said the expiry dates of produce will be strictly observed. 

Do also said Homeplus will set up a fair trade rule and expand employment to improve its public image. Home Plus will help its customers, vendors and regional society by providing excellent-quality services in the way to do its social responsibility in full.

Homeplus has 113 branches throughout Korea. It’s the second largest retailer in the country, just behind Shinsegae Group.