On July 4, E-Land Retail announced that it will absorb and merge E-Land Kim's Club, the corporation operating large supermarkets, and E-Land Global, the corporation operating fashion brands.
E-Land Retail originally owned 100% of the shares of both E-Land Kim's Club and E-Land Global.
The decision to merge was approved by the board of directors on June 25, and the merger will take effect on September 1.
E-Land Group stated, "We aim to generate synergy and strengthen our core business competitiveness through integration, rather than operating the large supermarket and fashion business divisions separately."
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