Page 16 - Services

2 Wholesale and Retail Services

The French hypermarket chain Carrefour in recent years has increased
capital and continued to expand the new store type "Carrefour Market" across
Taiwan. After the 13th store of the French sporting goods vendor Decathlon
opened in Hsinchu, Decathlon announced that it will invest NT$80 million for the
construction of its first flagship store in Southern Taiwan in Kaohsiung, which is
expected to begin operations at the end of 2020. American company Costco will
continue to expand outlets in Taiwan, and a 14th branch store will be opened
in Taichung. Swedish company IKEA launched the Group's largest investment
project in Taiwan in the Taoyuan "Qingpu Store" which occupies an area of 1.38
hectares and was built at a cost of NT$6 billion. It is expected to open on July 23,
2020. In addition, Japanese real estate developer Mitsui Group has constructed
or will soon develop outlets in five areas including Linkou in New Taipei City,
Taichung Port Special Zone, Nangang in Taipei, Tainan High Speed Rail
Special Zone, and the East District in Taichung. It will also continue to expand
commercial outlets, hotels, residential buildings, and commercial and residential
complex development projects in Taiwan.

3 Dining

Several chain groups from Japan, Korea, and Singapore have made their
way to Taiwan in recent years. The Japanese fast food chain "Matsuya," which
specializes in gyudon ("beef & rice" bowls), opened its first store in Taiwan in
2018 and a second store in July 2019. It plans to expand the number of its
stores in Taiwan to 9 in the next three years. The largest conveyor belt sushi
chain SUSHIRO has continued to expand its investments in Taiwan since
the establishment of its first store in Taiwan in 2018. It has opened 18 stores
across Taiwan. "HOSHINO COFFEE" is exceedingly popular in Japan, where
it has opened more than 230 stores. It opened its first store in Taipei in 2019.
Chains such as "Song Fa Bak Kut Teh" and "Beauty in the Pot,", both highly
recommended by Bibendum "MICHELIN Guide Singapore", and the "bb.q
CHICKEN flagship restaurant" from Korea have opened stores in Taiwan. These
developments show how Asian countries view the potential for the development
of the dining market in Taiwan.

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