Carrefour, the French grocery retailer, is aiming for further expansion in Asia in the next two years.

It has announced plans for a E191m investment in South Korea, consisting of new stores and renovations to existing stores.

The retailer currently has 27 hypermarkets in South Korea, which generated E1.1bn in revenue last year.

Carrefour opened its 34th hypermarket in Taipei, Taiwan, last month, as well as its fourth Champion Supermarket in Beijing.