GS Shop, Korea's leading home shopping company, announced on Monday that it is making inroads into the Chinese market as it has acquired a 20 percent stake in China Home Shopping Group for US$40 million (W45.5 billion).

GS Shop said it also plans to dispatch some personnel to China to take charge of marketing strategy and product planning.

"With this agreement, we are now able to reach the broader Asian market including India, Thailand, Vietnam, and other countries in which we began operating in recent years," the company said in a statement.