May 29, 2014 12:25
The world's largest furniture chain IKEA, which opens its first store in Gwangmyeong, Gyeonggi Province late this year, hopes to open four more stores in Korea by 2020.
Small and medium-sized local furniture companies are expected to be hit hard by the expansion.
The announcement was made by IKEA Korea project manager Patrick Schuerpf.
The furniture industry predicts the stores will be in Seoul, Gyeonggi Province, Goyang and Busan.
The chain has 345 stores in 42 countries, including 15 in China and seven in Japan.
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