GS Retail to Sell AboutPet, Focusing on Core Business Capabilities
GS Retail is moving forward with the sale of AboutPet, its subsidiary and an online shopping mall specializing in pet supplies.
On October 14, GS Retail held a board meeting and approved a proposal to waive 20 billion won in loans extended to AboutPet. GS Retail is the largest shareholder of AboutPet, holding a 66.15% stake.
The company explained that this loan waiver is intended to meet the buyer's preconditions for the acquisition.
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A GS Retail representative stated, "This sale is part of our efforts to strengthen internal management by focusing on our core business and improving operational efficiency."
This content was produced with the assistance of AI translation services.
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