HLB Global Changes Business to Comprehensive Retail Focused on Media Commerce

HLB Global announced on the 29th that it will change its business sector from non-metallic mineral mining to "comprehensive retail" focused on media commerce. HLB Global plans to spin off its resource and environment division to establish a new subsidiary called 'HLB Resource.' This move is interpreted as a measure to further concentrate on the media commerce sector. An extraordinary general meeting of shareholders will be held on July 31 to proceed with the physical division process.

In December 2022, HLB Global acquired and merged the media commerce platform company 'TI Corporation,' establishing a media commerce division. The company expanded its business scope from the existing B2C sector to the D2C field and successfully launched various brands, thereby expanding its business. Key products include the portable massager 'Spaal,' men's perfume 'Jomad,' car accessories 'Kamim,' and the early childhood visiting art education brand 'Papaduck.'

HLB Global is growing into a full-fledged media commerce company through the 2023 merger. It turned a profit on both a separate and consolidated basis in the first quarter of this year. Through the efficiency and specialization of each business division this year, sales and profits are expected to increase further in the future.

Kim Kwangjae, CEO of HLB Global, said, "Through the business sector change, we aim to leap forward as a life care specialized company that provides real value to customers," adding, "We will develop and supply various products to customers in the media commerce sector to provide tangible value." He continued, "Based on our achievements in the domestic market, we will actively enter overseas markets to achieve sustainable growth."

HLB Global aims to further strengthen its position in the media commerce sector, enhance specialized business capabilities, and increase shareholder and corporate value.