Distribution Industry Discusses Adding Business Objectives in Articles of Incorporation at General Meeting
Lotte Bottle Bunker and Others Considered for Liquor Retail and General Restaurant Business
Shinsegae Plans to Strengthen Art Business and Expand App Differentiation
The distribution industry is discussing the addition of business objectives related to new ventures in their articles of incorporation at this year's shareholders' meetings.
According to the distribution industry on the 13th, Lotte Shopping will address a proposal to amend its articles of incorporation to add business objectives for liquor retail and general restaurant operations at the shareholders' meeting scheduled for the 23rd. This is aimed at diversifying business, including the expansion of Lotte Mart's 'Bottle Bunker'.
At the end of last year, Lotte Mart renewed its Jamsil branch as 'Zeta Flex' and attracted attention by opening the wine specialty store Bottle Bunker. One side of the Bottle Bunker store features a 'Tasting Tap' where customers can sample over 80 types of wine before purchase, as well as 'Burrata Lab' which sells side dishes. Lotte Shopping judged that it is necessary to add liquor retail and general restaurant operations to the articles of incorporation to expand such services in the future. Lotte Mart plans to equip its Changwon Central and Gwangju Sangmu branches, which are being renewed and reopened as warehouse discount stores 'Max', with Bottle Bunker stores featuring Tasting Tap and Burrata Lab.
Shinsegae will discuss adding business objectives including value-added telecommunications business, internet auction and product brokerage, advertising business including internet advertising and advertising agency, database and online information provision, and internet content development and supply at its shareholders' meeting on the 24th.
The addition of internet auction and product brokerage is aimed at expanding Shinsegae Department Store's art sales business. Shinsegae, which operates a dedicated gallery team for the art business and runs galleries where art can be viewed and purchased at its main store, Gangnam branch, and Centum City branch, also acquired shares of the art auction company Seoul Auction at the end of last year. The internet content development and supply business appears to be intended to strengthen differentiated services through the Shinsegae application (app). Currently, Shinsegae provides services such as e-book rental and music streaming via Genie Music through its department store app.
BGF Retail, which operates CU, will address a proposal at its shareholders' meeting on the 29th to add health supplement retail and all related businesses concerning the construction, management, operation, and leasing of highway rest areas and gas stations (including LPG and electric charging stations) to its articles of incorporation in order to expand its business areas.
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