Lotte Hi-Mart: Difference between revisions
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| num_employees = 1,000 (2005) |
| num_employees = 1,000 (2005) |
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| parent = [[Lotte (conglomerate)|Lotte]] (since 2012) |
| parent = [[Lotte (conglomerate)|Lotte]] (since 2012) |
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| homepage = [http://www.himart.co.kr/ www.himart.co.kr] |
| homepage = [https://web.archive.org/web/20051106015636/http://www.himart.co.kr/ www.himart.co.kr] |
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'''Lotte Hi-Mart''' ({{ko-hhrm|hangul=하이마트}}) is a [[South Korea]]n retailer of electronic goods. It was originally a unit of bankrupt [[Daewoo Electronics]] that founder Seon Jong-koo spun off in 1999. Hi-Mart is headquartered in [[Seoul]]. Hi-mart was taken over by [[Lotte (conglomerate)|the Lotte group]] in July 6, 2012.<ref>{{cite web|url=http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=105&oid=092&aid=0002004207|title=롯데쇼핑, 하이마트 1조2천480억 인수|website=Naver.com|language=ko|accessdate=2013-09-15}}</ref> |
'''Lotte Hi-Mart''' ({{ko-hhrm|hangul=하이마트}}) is a [[South Korea]]n retailer of electronic goods. It was originally a unit of bankrupt [[Daewoo Electronics]] that founder Seon Jong-koo spun off in 1999. Hi-Mart is headquartered in [[Seoul]]. Hi-mart was taken over by [[Lotte (conglomerate)|the Lotte group]] in July 6, 2012.<ref>{{cite web|url=http://news.naver.com/main/read.nhn?mode=LSD&mid=sec&sid1=105&oid=092&aid=0002004207|title=롯데쇼핑, 하이마트 1조2천480억 인수|website=Naver.com|language=ko|accessdate=2013-09-15}}</ref> |
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==External links== |
==External links== |
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*[http://www.himart.co.kr Hi-Mart Homepage] |
*[https://web.archive.org/web/20051106015636/http://www.himart.co.kr/ Hi-Mart Homepage] |
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==References== |
==References== |
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Revision as of 16:29, 6 January 2018
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| Type | Public |
|---|---|
| KRX: 071840 | |
| Industry | Retail |
Key people | Seon Jong Koo, Founder Lee Dong-woo, CEO[1] |
| Products | Shopping mall, Electronic commerce, Retail |
| Revenue |  $50.5 million USD (2005) |
Number of employees | 1,000 (2005) |
| Parent | Lotte (since 2012) |
Lotte Hi-Mart (Korean: 하이마트) is a South Korean retailer of electronic goods. It was originally a unit of bankrupt Daewoo Electronics that founder Seon Jong-koo spun off in 1999. Hi-Mart is headquartered in Seoul. Hi-mart was taken over by the Lotte group in July 6, 2012.[2]
History
Seon Jong-koo was formerly employed by Daewoo Electronics. When the company went bankrupt in 1999, he joined a spin-off company that became Hi-Mart.[3][4]
In June 2008, South Korean chaebol Eugene Group acquired 32.4% of Hi-Mart. in June 2010, the company went public.[3]
In July 2012, Lotte acquired a 65.3% of Hi-Mart for $1.1 billion. Hi-Mart operated 290 stores in Korea, controlling 35% of the market. The acquisition was maneuvered in the midst of a scandal about its founder and CEO, Seon Jong-koo, accused of embezzlement totaling $228 million.[5] In April 2012, one witness jumped out his appartment's window after being questioned by Korea's justice about bribing Seon Jong-koo. In December 2014, Seon Jong-koo was replaced by Lee Dong-woo.[1] He was the second largest shareholder of the company and heavily supported by Hi-Mart's employees.[6]
In October 2012, the deal was OKed by the FTC and the company announced it is changing the stores' names to Lotte Hi-Mart.[7]
See also
External links
References
- ^ a b Park Eun-Jee (27 December 2014). "Lotte switches execs after safety controversies". Joins.com. Retrieved 2016-08-07.
- ^ "롯데쇼핑, 하이마트 1조2천480억 인수". Naver.com (in Korean). Retrieved 2013-09-15.
- ^ a b Jaeyeon Woo (5 April 2012). "A Sad Twist in Hi Mart Tale". Wsj.com. Retrieved 2016-08-07.
- ^ "Lotte Group to bid for Hi Mart". 16 December 2011. Retrieved 2016-08-07.
- ^ Joyce Lee; Stephen Aldred (6 July 2012). "S.Korea Lotte pays $1.1 billion for controlling Hi-Mart stake". Reuters.com. Retrieved 2016-08-07.
- ^ Lee Ji-yoon (29 November 2011). "Hi Mart management feud escalates". Koreaherald.com. Retrieved 2016-08-07.
- ^ Park Si-soo (29 October 2012). "Lotte gets green light to acquire Hi-Mart". Koreantimes.co.kr. Retrieved 2016-08-07.
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