Could Starbucks buy back Korean business after marketing fiasco?

The fallout from Starbucks Korea’s controversial “Tank Day” marketing campaign is drawing renewed attention to a high-stakes ownership agreement that could become a major financial risk for Emart and its parent, Shinsegae Group.

In July 2021, Emart acquired an additional 700,000 shares in unlisted Starbucks Korea from Starbucks Coffee International, the overseas business and licensing arm of Starbucks, for 474.3 billion won ($314 million).

This raised its stake to 67.5 percent to secure manageme