E-Land Retail Acquires 3% Stake in Oasis Market for 33 Billion KRW

Yoon Sung-dae, CEO of E-Land Retail (left), and Ahn Jun-hyung, CEO of Oasis, are holding a signing ceremony to establish a long-term partnership and posing for a commemorative photo.

[Asia Economy Reporter Eunmo Koo] E-Land Retail announced on the 7th that it has acquired a partial stake in the dawn delivery company Oasis Market and signed a business partnership agreement.

E-Land Retail will become a strategic investor (SI) by purchasing 842,062 common shares of Oasis Market (3% stake) from GeoSoft, the parent company of Oasis Market, at 39,189 KRW per share. The purchase amount is approximately 33 billion KRW. GeoSoft explained, "This recognizes Oasis Market's corporate value at 1.1 trillion KRW."

E-Land Retail and Oasis Market have agreed to invest or participate as top partners in large-scale business expansions such as facility investments, new business ventures, and mergers and acquisitions (M&A). In particular, they plan to cooperate in developing production areas and establishing a fresh product distribution system, including selling E-Land Retail's Kim's Club products on Oasis Market's online and offline platforms.

Through this partnership, Kim's Club will be able to expand its fresh product segment using the Oasis Market platform, and Oasis Market expects marketing opportunities through E-Land membership members and over 30 Kim's Club branches.

Yoon Sung-dae, CEO of E-Land Retail, said, "The establishment of this partnership will greatly change the landscape of the domestic fresh market," adding, "We will create an environment where customers can easily experience high-quality fresh products by increasing contact points with customers both online and offline." An Jun-hyung, CEO of Oasis Market, predicted, "Providing E-Land Retail's fresh products from production areas through Oasis Market's dawn delivery service will expand the online fresh food shopping market."

This content was produced with the assistance of AI translation services.