Gamseong Corporation Merges with Devgroo... "Confirmed Growth Potential of Snowpeak Apparel"

[Asia Economy Reporter Yoo Hyun-seok] Gamseong Corporation (formerly Virtual Tech) announced on the 20th that it will proceed with a merger with Devgroo.

This merger is being conducted with Devgroo, a 100% subsidiary of Gamseong Corporation that launched the Snow Peak Apparel brand. It is the first business undertaken since the company changed its name to Gamseong Corporation.

Gamseong Corporation's confidence in the success potential of Snow Peak Apparel is reflected in this merger. Through the merger, it is expected to lead strategic corporate growth by maximizing synergy effects through organizational efficiency, rapid decision-making, and bold investments.

Since the first store opening last year, Snow Peak Apparel's brand value and sales have rapidly grown. It currently has more than 70 distribution channels including department stores and agencies, and plans to expand the business to over 100 by the end of this year, aiming to increase customer awareness through active marketing.

A company official explained, "The first business after changing the company name to Gamseong Corporation is the merger with Devgroo," adding, "Through the merger, we plan to secure efficiency through synergy between the Snow Peak Apparel business and existing businesses, and to focus our capabilities on company growth by discovering additional new businesses that fit new trends."