Emart-Shinsegae Construction Merger Completed... "Strengthening Responsible Management"

Emart and Shinsegae Construction merger has been completed.

Emart announced on the 4th that it has become the wholly owning parent company of Shinsegae Construction Co., Ltd.

Emart secured all shares of Shinsegae Construction through a public tender offer and stock exchange. Shinsegae Construction is expected to be delisted from the KOSPI market as early as the end of this month.

Emart stated, "Taking this voluntary delisting of Shinsegae Construction as an opportunity, we plan to strengthen responsible management and swiftly proceed with efforts to enhance competitiveness through business structure reorganization to achieve prompt business normalization."