BGF, HelloNature B2C Online Business Division Suspension Decision

[Asia Economy Reporter Lee Jung-yoon] BGF announced on the 15th that it has decided to suspend operations of the B2C online business division of its subsidiary, Hello Nature.

The reason for the suspension is intensified competition and business stagnation, and the company plans to improve its business portfolio through selection and concentration. The suspension amount corresponds to last year's sales in the affected business area, totaling KRW 56,611,580,000.

Additionally, BGF announced its withdrawal from Hello Nature as a subsidiary by selling all 552,248 common shares of Hello Nature it holds to BG Networks.