South Korea’s second-largest department store operator Shinsegae Group will invest 1 trillion won ($866 million) in local department stores this year to reinforce the business that has helped cope with the COVID-19, reported The Korea Economic Daily.
The firm reported 123.6 billion won ($110 million) in operating profit on a consolidated basis during the first quarter, compared to the 3.3 billion won ($3 million) profits a year earlier. The increase is due to major branches focusing on attracting its shoppers.
