GS Home Shopping Acquires 19.5% Stake in 'Boorung' Mesh Korea

On the 19th, GS Home Shopping acquired a 19.53% stake in Mesh Korea, a logistics company operating the delivery service 'Vroong,' for approximately 50.8 billion KRW.

[Asia Economy Reporter Lim Chun-han] GS Home Shopping announced on the 19th that it has acquired a 19.53% stake in Mesh Korea, a logistics company operating the delivery agency 'Boorung', for approximately 50.8 billion KRW.

This acquisition was carried out by taking over shares from existing shareholders such as Humax, with investors from the Hanse-Woori consortium also participating. GS Home Shopping secured a total of 19.53% stake, becoming the second-largest shareholder after Naver.

GS Home Shopping expects to collaborate with Mesh Korea to offer same-day and instant delivery services, and to expand sales of refrigerated and fresh food products. Additionally, they are planning various sales formats that actively utilize the logistics network for mobile and live commerce to differentiate customer experience. Especially with the upcoming merger with GS Retail in July, the three companies plan to organize a delivery innovation council to expand synergy and provide new services.

A GS Home Shopping official stated, “We will continue to make various investments to provide fulfillment services that customers want. In particular, we plan to maximize the collaboration synergy between GS Retail and Mesh Korea ahead of the merger scheduled for July.”