M&As illustrate business acumen of Shinsegae heirs koreatimes.co.kr - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from koreatimes.co.kr Daily Mail and Mail on Sunday newspapers.
Naver Seen as major beneficiary in Shinsegae s acquisition of eBay Korea koreatimes.co.kr - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from koreatimes.co.kr Daily Mail and Mail on Sunday newspapers.
Shinsegae, Lotte capitalize on baseball to enhance market presence
Posted : 2021-04-09 09:12
Updated : 2021-04-09 09:12
Shinsegae Vice Chairman Chung Yong-jin takes a photo in his seat during the baseball match between SSG Landers and Lotte Giants at SSG Landers Field in Incheon, April 4. Yonhap
By Kim Jae-heun
Only three months after Shinsegae acquired SK Telecom s professional baseball team SK Wyverns and rebranded it as SSG Landers, the retail giant is making good use of the team in marketing campaigns to improve the performance of its main retail business.
On March 30, Shinsegae Vice Chairman Chung Yong-jin publicly targeted longtime rival Lotte Shopping on social media platform Clubhouse saying they will have to bite the bullet to catch us.
SK TELECOM
SK Telecom s Chief Executive Park Jung-ho said on Tuesday that it was natural for the country s top mobile carrier to participate in the bidding for eBay Korea, without elaborating further.
A combination of SK s online shopping mall 11Street, with a transaction value of 10 trillion won, and eBay Korea, with 17 trillion won in annual transactions, would create the country s biggest e-commerce player.
With the energy-to-telecom SK Group scaling back on its refining and petrochemical businesses, the acquisition of eBay Korea would balance the group s telecom-heavy business portfolio.
SHINSEGAE
Shinsegae s supermarket chain E-Mart also is keen to buy eBay Korea. The retail group is expected to join forces on the bid with Affinity Equity Partners, the second-largest shareholder of SSG.COM, Shinsegae s e-commerce platform.