On the 10th, Shinsegae announced that it will invest 10 billion won in its affiliate Mindmark to secure funds for its content business.

Shinsegae approved this matter during a board meeting on the same day. The investment date is the 13th, and the purpose of the investment is 200,000 common shares.

View of Shinsegae Department Store./Courtesy of News1

So far, Shinsegae's total investment in Mindmark amounts to 76 billion won.

Mindmark is a 100% subsidiary established in April 2020 with an investment of 26 billion won from Shinsegae. Since its establishment, Mindmark has expanded its business by acquiring several companies that produce media content.