E-Mart swung into the red last year despite record sales as it was hit by growing losses from its construction subsidiary amid rising construction costs and a depressed real estate market, the nation’s largest supermarket chain said, Wednesday.
South Korean retail giant Shinsegae Group conducted a large-scale, earlier-than-usual personnel shakeup following its flagging business showings and losing race against fast-growing retail powerhouses such as Coupang. Via an executive appointment conducted a month ahead of its usual timing, 9 out of 25 of Shinsegae Group's chief executive officers, or some 40 percent, were replaced. The reshuffle was made in acc.
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