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(photo = GS Retail homepage) |
[Alpha Biz=(Chicago) Reporter Paul Lee] GS Retail has been confirmed to have closed its home shopping business in Indonesia. It has been operating home shopping and supermarket businesses with corporations in Indonesia, and has started to reorganize its business to improve profitability due to poor performance.
According to The Asia Business Daily on the 18th, GS Retail was confirmed to have closed all of its stakes in MNC GSHS (GS Home Shopping), an Indonesian joint venture, last year.
The joint venture was created in 2012 with Indonesian media group GMC for the home shopping business in Indonesia. Currently, local home shopping broadcasts have been suspended and it is understood that shareholders are discussing ways to organize corporations.
"It is true that the home shopping business has been suspended," a GS Retail official said. "We are talking about how to liquidate it and it is not completed."
AlphaBIZ Paul Lee(hoondork1977@alphabiz.co.kr)
