Shinsegae Invests 40 Billion KRW in Subsidiary Shinsegae Casa for "New Product Development"

[Asia Economy Reporter Gong Byung-sun] Shinsegae announced on the 22nd that it will invest 40 billion KRW to participate in the paid-in capital increase of its subsidiary Shinsegae Casa.

With this investment, Shinsegae's stake in Shinsegae Casa will increase by 0.92 percentage points from 95.68% to 96.6%. The scale of Shinsegae Casa's paid-in capital increase is 41.4 billion KRW.

Shinsegae stated, "The funds will be used for the renewal of the Shinsegae Casa mobile app and the development of new products."