The Latest Breaking News from Shinsegae

Starbucks Korea offices raided over controversial ‘Tank Day’ campaign

Promotion for its ‘Tank’ tumbler range was accused of invoking military crackdown on 1980 Gwangju uprising

The Independent UK · Aug 5

Starbucks 'Tank Day' Controversy Explained Why Police Raided the South Korean Coffee Giant's HQ

South Korean police have raided the Seoul headquarters of Starbucks Korea following intense public backlash over the controversial 'Tank Day' marketing campaign.

International Business Times UK · Aug 5

Starbucks Korea to shut 2,000 stores to teach history lessons to employees

Starbucks Korea is closing over 2,000 stores for mandatory history and social sensitivity training after a marketing campaign sparked outrage. The "Tank Day" promotion, coinciding with the Gwangju massacre anniversary, led to boycotts and leadership changes. The half-day shutdown on June 22 is expected to cost 2.1 billion won in…

The Economic Times · Jun 17

Starbucks sees sharp drop in Korean sales after 'Tank Day' marketing backlash

Starbucks Korea sales have dropped significantly. This follows a marketing campaign that caused public anger. The campaign was linked to the Gwangju Uprising. Shinsegae Group chairman Chung Yong-jin has apologized. He stated he takes full responsibility for the incident. The company acknowledges serious flaws in its risk management. Starbucks global…

The Economic Times · May 26

Lex in depth: why the luxury market needs to hedge against China

A shift in spending habits in Asia and a crackdown on wealth by Beijing threaten a profit squeeze for high-end brands

Financial Times · May 8, 2022