South Korean department store operator Shinsegae has revealed that it has negotiated a 1.1% discount on the price of acquiring Wal-Mart’s South Korean operations.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more


Shinsegae originally announced its intention to buy a 100% stake in the US chain’s 16 South Korean outlets in September 2006, when it paid Wal-Mart KRW825bn (US$825m) for its operations in South Korea. Shinsegae said that it intended to operate them under the umbrella of its E-Mart banner.


However, Wal-Mart refunded 1.1% of the purchase price when it came to light that its subsidiary’s working capital was considerably lower than earlier estimates had indicated. After the refund, Shinsegae paid a total consideration of KRW816.19bn.

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now