He said E-Mart Mall, an online store; Electro Mart, the conglomerate's electronic retailer; and No Brand products can create opportunities going forward.

E-Mart has provided several No Brand products at lower prices than its competitors under the concept that consumers deserve quality products at affordable prices. Low prices are possible since there is minimal packaging and no extra marketing costs.

Chung called on the employees to strive to make something that has never existed before, saying, "Entrepreneurship for E-Mart employees should be creating new values."

He took note of Japan's major shopping malls, which have witnessed the halving of sales for the past 15 years amid keen competition with convenience stores and online malls. (Yonhap)