SEOUL, April 13 (Korea Bizwire) — South Korea’s top two retailers — Shinsegae Group and Lotte Group — are going beyond retail to jump into the whisky and wine markets, which have been seeing rapid growth since the onset of the COVID-19 pandemic. Lotte Chilsung Beverage Co. announced in a report released early this year [...]
SEOUL, Aug. 13 (Korea Bizwire) — SSG.com, the online mall arm of South Korean retail giant Shinsegae Group, said Friday it started preparing for a listing on the local stock market. SSG.com said the company requested major local securities submit bids for the selection of a lead manager for its initial public offering (IPO). “Company [...]
SEOUL, July 29 (Korea Bizwire) — From eBay Korea to Starbucks Coffee Korea, Shinsegae Group vice chairman Chung Yong-jin’s aggressive M&A strategy is attracting significant attention. E-Mart Inc., a discount store chain under Shinsegae Group, bought an additional 17.5 percent stake in Starbucks Coffee Korea on Tuesday, paying 474.2 billion won (US$412 million) to become [...]
SEOUL, June 24 (Korea Bizwire) — E-Mart Inc., a discount store chain under Shinsegae Group, said Thursday it has signed an agreement with eBay Inc. to acquire an 80 percent stake in its South Korean e-commerce unit for 3.44 trillion won (US$3.05 billion), a move expected to bring about a seismic shift in the local [...]
SEOUL, June 16 (Korea Bizwire) — A South Korean conglomerate Shinsegae-led consortium has been picked as the preferred bidder for eBay Korea, the South Korean unit of e-commerce giant eBay, beating its local rival Lotte Shopping and heralding a seismic change in the country’s e-commerce sector, industry sources said Wednesday. The Shinsegae-Naver consortium reportedly offered [...]
SEOUL, March 16 (Korea Bizwire) — South Korea’s top portal operator Naver Corp. and retail giant Shinsegae Group said Tuesday they agreed to a share swap deal valued at 250 billion won (US$221 million) to strengthen their foothold in the highly competitive e-commerce sector. Under the agreement, Naver will buy 150 billion won worth of [...]
SEOUL, Jan. 26 (Korea Bizwire) – South Korean retail giant Shinsegae Group said Tuesday it will acquire a professional baseball club owned by SK Group as it seeks to boost marketing with the sports team. E-Mart Inc., the country’s biggest discount store chain run by Shinsegae, has agreed to buy the SK Wyverns of the [...]
SEOUL, Jan. 25 (Korea Bizwire) — South Korean retail giant Shinsegae said Monday it is on the verge of purchasing a professional baseball club from the country’s largest mobile carrier, catching even members of the team by surprise a week before the start of spring training. In a vague statement, Shinsegae, South Korea’s No. 2 [...]
SEOUL, April 17 (Korea Bizwire) — An international theme park is being planned for Hwaseong, Gyeonggi Province. The Ministry of Land, Infrastructure and Transport, Korea Water Resources Corp. and Shinsegae Property Consortium — Shinsegae Property and Shinsegae Engineering & Construction — announced Thursday the signing of a contract to start the construction of an international [...]
SEOUL, Dec. 19 (Korea Bizwire) — Shinsegae DF Inc., the duty-free arm of South Korean retail giant Shinsegae, plans to hold a campaign to raise public awareness about environmental pollution caused by plastic waste and the importance of upcycling. Upcycling refers to the act of creating new products using recycled materials, refined with new design [...]