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Shinsegae Live Shopping Invests 5 Billion Won in UL Owner Deal

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Shinsegae Live Shopping, a Shinsegae Group affiliate, plans to back the acquisition of UL Corporation, operator of a cosmetics brand, by investing 5 billion won through a stake in the Signite-UL Venture Investment Fund. L1 Partners is pursuing a controlling stake in UL for about 170 billion won, with Signite joining. Revenue and operating profit rose year-on-year, and Shinsegae International is also considering a separate 10 billion won investment.

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