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Shinsegae Group’s chairman, Chung Yong-jin, is set to expand his role within the organization, assuming CEO positions at both E-mart and Shinsegae Property. This move by the South Korean retail heavyweight signals an aggressive push for growth in its primary…
The commencement of a new joint venture between South Korea’s Shinsegae Group and China’s Alibaba International has been viewed by many as an indication of impending transformation in the country’s e-commerce market. The New Venture: Grand Opus Holdings…
Shinsegae Inc, a major retail conglomerate in South Korea, announced on Thursday that it plans to shut down its duty-free business unit in Incheon International Airport’s DF2 zone. This decision has been prompted by growing losses. Motivation Behind the…
South Korean fashion giant, Shinsegae, is set to make its entrance into the Singaporean market through a unique collaboration with Metro. This partnership will entail the launch of a pop-up store at Paragon, scheduled to run from September 25 until October 5.…
Shilla Duty Free has declared its intention to halt operations at its DF1 duty-free store at Incheon International Airport in March. This follows the store’s excessive losses and the concession’s business value falling below its liquidation value. Financial…
The antitrust regulator of South Korea has provisionally approved a joint venture between Shinsegae Group’s Gmarket and Alibaba’s AliExpress Korea. This approval paves the way for a new contender to challenge the market, which has been historically dominated…
Shinsegae Duty Free has unveiled a revitalized 11th floor at its flagship Myeongdong store, highlighting South Korea’s vibrant culture and its appeal to global travelers. This extensive renovation has culminated in an impressive collection of over 100…
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…
South Korean retailers Lotte Shopping and Shinsegae Group entered separate binding bids for eBay’s South Korean business, the retailers’ spokesmen said on Monday. eBay Korea – South Korea’s third-largest e-commerce firm with a 12.8% market share in 2020,…
South Korea’s retail giant Shinsegae is reviewing ways to double its stake in Starbucks Korea from 50% to 100%, according to an industry source on Mar. 19. Shinsegae’s affiliate E-mart currently owns 50% of Starbucks Korea, while Starbucks Corporation…
South Korea’s SK Telecom, retailer Shinsegae Group and private equity firm MBK Partners were among those that entered non-binding, preliminary bids for the sale of eBay Inc’s South Korean business, the telecom company, and two sources with knowledge of the…
The new Starfield Anseong, the second joint venture between Taubman Asia and Shinsegae Property, opened today in Anseong, Gyeonggi Province, South Korea. The one million square foot, modern shopping, entertainment, and dining destination is Taubman Asia’s…
Shinsegae, one of South Korea’s largest retail groups, has reported its net profit fell 99.8 percent year on year as the Covid-19 crisis effectively shut down the nation’s tourism industry and caused local consumers to stay home. The conglomerate, whose…
South Korean department store franchise Shinsegae has relinquished its claims to the K-pop boy band BTS brand name following a threat of legal action by the band’s representatives. “We renounce all trademark rights related to BTS,” read a statement from the…
Shinsegae Department Store, one of South Korea’s leading retailers, said Tuesday that its outlet in Gangnam, an affluent area in southern Seoul, reported 2 trillion won (US$1.7 billion) in accumulated sales last year. It marks the first time for a…
South Korean retail giant Shinsegae is developing a cashier-less grocery-store modeled on the Amazon Go concept. The brand’s first automated store – to be branded Emart24 – will open at the company’s data centre in Gimpo in Gyeonggi Province as a pilot while…
