Tesco to invest in Korea logistics centre

SEOUL (Reuters) - Tesco will invest $100 million (50.6 million pounds) to set up a logistics centre in South Korea, the country's economy ministry said on Wednesday.

The logistics centre, to be located in Ansung in central Korea, is expected to open in December 2010, the Ministry of Knowledge Economy said in a statement.

The investment includes $50 million in construction costs, it added.

Tesco, the world's third-biggest food retailer, has international operations spanning 12 countries from China to the United States. In South Korea, Tesco has a 94 percent-owned unit Samsung Tesco which runs discount stores.

(Reporting by Rhee So-eui; Editing by Keiron Henderson)

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