South Korean retailers Shinsegae and E-Mart said on June 11 they will buy all SSG.com shares held by investor Olympus Jeilcha by exercising a call option.

The deal will give the two companies full ownership of the ecommerce platform after payment on August 26.

Under a shareholder agreement signed in November 2024, E-Mart will acquire 857,036 shares. The transaction will increase E-Mart’s stake to 65.1%. Shinsegae will buy 459,456 shares and hold the remaining 34.9%.

A Shinsegae Group official said the transaction would restructure SSG.com’s governance and improve management efficiency.

SSG.com reported 1.4 trillion won (US$891 million) in sales last year and a net loss of 99.7 billion won (US$65.8 million). Sales fell 14.5% from a year earlier, while the net loss widened 42.8%.

🔗 Source: Chosun Daily

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