asset sale Archives | Be Korea-savvy
Korean Air to Sell In-flight Catering, Duty-free Business amid Pandemic

Korean Air to Sell In-flight Catering, Duty-free Business amid Pandemic

SEOUL, July 7 (Korea Bizwire) — Korean Air Lines Co., the country’s biggest carrier, said Tuesday it will sell its in-flight catering and duty-free business to a private equity fund amid the growing impact of the coronavirus on the airline industry. Korean Air’s board of directors signed a memorandum of understanding with Hahn & Company [...]

Lotte Shopping to Sell 121 Stores This Year Due to Virus Impact

Lotte Shopping to Sell 121 Stores This Year Due to Virus Impact

SEOUL, May 24 (Korea Bizwire) — Lotte Shopping Co., the operator of South Korea’s biggest department store chain, said Sunday it will sell 121 brick-and-mortar stores within this year amid the new coronavirus impact on the retail industry. Lotte Shopping runs about 700 department stores, large discount stores, supermarkets and LOHB’s online shopping mall’s offline [...]

Lotte to Sell Assets on Widened Losses; Emart Logs Weak Earnings

Lotte to Sell Assets on Widened Losses; Emart Logs Weak Earnings

SEOUL, Feb. 13 (Korea Bizwire) — Lotte Shopping Co., the operator of South Korea’s biggest department store chain, said Thursday it will sell assets after posting a loss for 2019, while the country’s largest discount store chain operator, Emart Inc., reported weaker than expected earnings as well. Lotte Shopping will sell 200, or 30 percent, [...]

E-Mart Offloads Real Estate, Buys Back Shares to Restore Competitiveness

E-Mart Offloads Real Estate, Buys Back Shares to Restore Competitiveness

SEOUL, Aug. 14 (Korea Bizwire) — E-Mart Inc. has decided to buy back shares worth some 100 billion won (US$82 million) and securitize its assets through sale and leaseback arrangements. “At the current stage, we have to save up our capability, and use that capability when there is an opportunity,” said Shinsegae Group Vice Chairman [...]