CJ O Shopping engaging in the home shopping business in nine countries with 11 overseas subsidiaries is going to perform massive surgery on non-performing overseas subsidiaries. Some of them will be liquidated.
CJ O Shopping was considering a restructuring of its Nanfang CJ in Guangzhou, China, CJ Mediasa in Turkey, Shop CJ in India, and CJ Prime Shopping in Japan, CJ O Shopping said on April 27.
The issue of its overseas subsidiaries’ slow earnings has been constantly pointed out. In particular, the four overseas subsidiaries cumulative deficits over the past three years nearly reach 97.8 billion won (US$88 million), close to 100 billion won (US$90 million). Shop CJ which made an aggressive foray into the Indian market in 2009 posted…
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