SEOUL, Jan. 10 (Korea Bizwire) — South Korean retail giant Shinsegae Group on Tuesday denied a rumor that G-Dragon of K-pop band BIGBANG was romantically involved with the granddaughter of the group’s chairperson. Speculation surrounding G-Dragon, whose real name is Kwon Ji-yong, and the granddaughter of Chairperson Lee Myung-hee first emerged after a Chinese entertainment [...]
SEOUL, Dec. 14 (Korea Bizwire) — Retailer Shinsegae Group and local telecom giant KT Corp. said Wednesday they will work together in the digital transformation of shopping, logistics and land development. Shinsegae and KT signed a partnership deal earlier in the day to join hands in five sectors: customer management, logistics, land development, online shopping [...]
SEOUL, July 28 (Korea Bizwire) — Shinsegae Food, a food business arm of South Korea’s Shinsegae Group, launched its new plant-based canned ham product Thursday as it is pushing to expand its plant-based meat brand to ordinary customers. Shinsegae Food had so far supplied its cold-cut ham business through such channels as Starbucks coffee chain [...]
SEOUL, July 21 (Korea Bizwire) — Shinsegae Food, a food business arm of South Korea’s Shinsegae Group, said Thursday it will set up a U.S. subsidiary next month in the latest move to boost its competiveness in plant-based meat alternatives. Shinsegae Food said it will spend US$6 million on setting up Better Foods Inc., a [...]
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 [...]