Korean discount store chain Homeplus has opened a bulk products and grocery store hybrid called Homeplus Special in Daegu.

The new concept store is housed in the original Homeplus outlet that opened 20 years ago, now converted to operate the new big-box-plus-retail model following underwhelming sales figures and strong rivalry from industry competitors.

The new hybrid-store concept will allow the brand to target both individual shoppers and businesses that buy in bulk, and aims to eliminate seasonal price differences with blanket, year-round discounts.

A Homeplus spokesperson said the business plans to convert 15 branches into Homeplus Special stores this year. Another outlet is opening today in Busan.