S.Korea's Shinsegae, E-Mart rise over report on joint e-commerce

E-Mart

28/08/2018 02:13

** Shares of Shinsegae  004170.KS  and E-Mart  139480.KS ,
two affiliates of Shinsegae Group, rise over 3 pct each,
following a media report that they are accelerating joint launch
of online shopping mall focusing on food sales
    ** Shinsegae Information & Communication  035510.KS , the
group's IT unit, gains as much as 10 pct
    ** Hong Kong-based fund Affinity Equity Partners will invest
about 1 trln won ($893.24 mln) for integrated corporation,
according to Maeil Business Newspaper report
    ** If the envisioned e-commerce seeks business-to-customer
trades on fresh foods with its own distribution centre, it is
expected to successfully target a niche market, says Lee
Ji-young, an analyst at NH Investment & Securities
    ** The project has been known before, but the scale of the
investment has spurred stock sales, says Yu Jung-hyun, an
analyst at Daishin Securities
    ** Main KOSPI market  .KS11  up 0.6 pct

($1 = 1,119.5200 won)

 ((hayoung.choi.thomsonreuters.com@reuters.net))