Tesco has recently spent nearly £1 billion to acquire stores in South Korea. It has owned stores in Korea for nine years but is now buying 36 Homever discount hypermarkets. Tesco already runs the Homeplus chain in South Korea which comprises of 66 hypermarkets and 72 Homeplus Express stores but the new stores will put Tesco neck and neck with Shinsegae who are the current market leader in the country.