SEOUL, Sept. 8 (Korea Bizwire) — A consortium led by Seoul-based private equity fund MBK Partners clinched a 7.2 trillion won (US$5.98 billion) deal to acquire U.K.-based retail giant Tesco Plc‘s Korean unit, marking the nation’s largest takeover deal. MBK said it struck the stock purchase agreement with Tesco in Hong Kong a week after [...]
SEOUL, August 3 (Korea Bizwire) – A police investigation has discovered that the unauthorized usage of Homeplus mobile gift cards was the result of malicious action on the part of Chinese hackers, and not duplication issues caused by computing errors. The cybercrime investigation department of the Seoul Metropolitan Police Agency revealed that they have placed three [...]
SEOUL, March 24 (Korea Bizwire) — The Korea National Council of Consumer Organizations has sent a letter of inquiry to the OECD to investigate Tesco-owned supermarket Homeplus over allegations that the company sold customers’ private information to insurance firms, according to a statement on March 23. The council claimed that Homeplus and its parent company Tesco [...]
SEOUL, Feb. 17 (Korea Bizwire) — Grapefruits are the new trendy import among Koreans right now. According to the Korea Customs Service, 19,491 tons of grapefruits were imported to Korea last year, which is an increase of 68.3 percent from 2013. Compared to 2009, the import amount and the import value increased 240.5 percent and 266.5 [...]
SEOUL, Feb. 4 (Korea Bizwire) – Ahead of the Valentine’s Day season, the portion of imported chocolate products has steadily increased over the past three years. According to Lotte Mart, sales of imported chocolate during the Valentine’s season (from Feb. 1 to 14) increased from 39.4 percent in 2012 and 54.5 percent in 2013 to 58.3 [...]
SEOUL, Feb. 1 (Korea Bizwire) – Homeplus Co., the South Korean unit of British retail giant Tesco PLC, has been indicted on charges of illegally selling customer data to insurance firms in exchange for money, a government investigation team said Sunday. Homeplus is accused of gathering more than 24 million pieces of customer data, including [...]
SEOUL, Nov. 22 (Korea Bizwire) – Londoners will now have the chance to taste Korean foods such as ramyun (also known as ramen in Japanese), kimchi, bulgogi and Korean alcohol soju at Tesco stores by December 2. The 4th Korean Food Exhibitions are being held at 62 Tesco stores in Britain until December 2nd, and [...]