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Business deals

SK Group takes 16% stake in Vietnam's top retailer

South Korean conglomerate seeks VinCommerce's distribution channels

VinCommerce operates the VinMart supermarket chain across Vietnam.

SEOUL -- SK Group has agreed to acquire a 16.3% interest in Vietnam's largest retailer, VinCommerce, for $410 million, the company announced Tuesday, its latest move to tap the rapidly growing Southeast Asian market.

SK said it has high hopes for VinCommerce as an omnichannel operator linking online and physical stores. The group seeks to generate synergies with its wide-ranging businesses, including telecommunications.

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