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Fast Retailing's GU to launch in South Korea

Fast Retailing Co. Ltd.-owned Japanese apparel retailer GU plans to open its first South Korean store at the LOTTE Corp.-owned Lotte World Mall in Seoul this fall, according to a May 16 company release.

The planned 1,400 square-meter location will offer items for women, men and children, according to the release.

GU seeks to follow the success of another Fast Retailing brand, Uniqlo, in South Korea. Uniqlo, which entered the country in September 2005 with the launch of its first store in Seoul, now operates 183 stores in the country, Fast Retailing said.