South Korea’s SSG.com, an ecommerce platform jointly owned by retailer Emart and department store operator Shinsegae, plans to split into two companies by December. Its board will discuss the spin-off on August 27.

The move unwinds an integration formalized in 2019. The surviving company will keep the SSG.com name, while a new entity will be tentatively called Shinsegae Mall.

Emart and Shinsegae will retain their current ownership split of 65.1% and 34.9% in both firms.

The decision followed weaker-than-expected performance against Coupang. SSG.com had aimed to combine Emart’s fresh food offering with Shinsegae’s higher-end products on one platform. But sales stayed around 1 trillion won (US$720 million), and the company continued to post operating losses.

The split also fits a wider group reorganization under which Emart and Shinsegae are set to become separate entities, while sibling leadership roles were made official in a recent revamp.

🔗 Source: Chosun Daily

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