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BENTONVILLE, ARK. - The pieces of Wal-Mart's global expansion plan continue to fall into place, with the most recent development being the retailer's acquisition of four stores and six undeveloped sites in South Korea.
Wal-Mart plans to appoint a Korean country manager in the near future and will allow its in-country team to determine store format and name changes as well as a timetable for the six undeveloped sites, according to WalMart International spokesman Dale Ingram.
The units are currently operated as Makro stores, a chain of Netherlands-based membership clubs. Each of the stores are single-level units with more than 100,000 sq. ft. of selling space.
The stores are also relatively new as Makro has only been...