Hansome, Hansome Life & Absorption Merger

Hyundai Department Store Group's fashion company Handsome announced on the 22nd that it will absorb and merge Handsome Life &, which operates the beauty brand 'Oera.'

Handsome owns 100% of the issued shares of Handsome Life &. This merger will be carried out as a non-capital increase without issuing new shares. After the merger, Handsome's shareholders will not change.

A company official stated, "We decided to merge with Handsome Life & to improve management efficiency in the beauty business," adding, "We plan to strengthen competitiveness in the market through swift decision-making and active investment in the beauty business."