The German company is on the point of signing an joint venture contract with Seoul-based Doorsan Corp. to move into South Korea. Otto Doorsan Mail Order Ltd will be 55% owned by Otto, 45% by Doorsan, South Korea's oldest retailer.
Last year, Otto set up the Otto Cheer Mail Order company in Shanghai. Otto had global sales in 1996 of $17.2bn.
Copyright April 1997, Crain Communications Inc.