Hypermarkets & warehouse clubs · E-commerce & coffee shops

E-mart Inc.

E-mart operates hypermarkets, Traders warehouse clubs, e-commerce and Starbucks Korea. FY2025 consolidated revenue was KRW 28.97 trillion and operating profit KRW 322.5 billion. In October 2026, its U.S. subsidiary disclosed a $1 billion acquisition of a Cayman investment vehicle for indirect exposure to newly issued Skydance-WBD merger shares. The ultimate stake and Warner IP rights were not disclosed.

Business categories Mass Retail · Consumer Brands & Commerce · primary E-Commerce Platforms · Consumer Brands & Commerce

Other companies in the same category

139480.KS Updated Oct 20, 2026 5 AI consumers· 4 recurring

Per the valuechain.wiki graph, E-mart Inc. is directly linked to 6 companies (6 supply, 0 revenue relationships) and reaches 22 companies within two hops; the links are backed by 16 dated sources, 2 of them primary filings (as of 2026-10-20).

Annual return · 2026-10-20'21-18.4%'22-19.5%'23-25.3%'24-14.6%'25+44.7%YTD-17.1%
Money in ▸대형마트·트레이더스 소비자 (오프라인 유통)●Amount ₩17.97스타벅스코리아(SCK컴퍼니) 소비자●Amount ₩3.238이커머스 소비자 (SSG닷컴·G마켓)◐
E-mart Inc.Consolidated revenue KRW 28.97tn
▸ Money outStarbucks●Market share 67.5%상품 매입원가 (제조사·벤더, 비공개)●Orion●물류·점포 운영·인건비 (비공개)◐CJ CheilJedang◐PepsiCo○Nestle○The Coca-Cola Company○

Financials & Segments

  • Total revenue · Consolidated revenue KRW 28.97tn (-0.2% YoY), operating profit KRW 322.5bn (+584.8%), net income KRW 246.3bn (return to profit). Standalone (hypermarket + Traders) gross revenue KRW 17.966tn (+5.9%)
  • Customer concentration · Essentially 100% of revenue is Korean domestic consumption. Standalone core KRW 17.966tn (+5.9%), Traders KRW 3.85tn (+8.5%) (FY2025)
  • Segments · Hypermarket and Traders · E-commerce (SSG.com, Gmarket) · Starbucks Korea (SCK Company) · Others (Shinsegae Property, Chosun Hotel & Resort, etc.)

Revenue from

  • 대형마트·트레이더스 소비자 (오프라인 유통) High confidence· Amount ₩17.97 · FY2025 · Standalone gross revenue KRW 17.966tn (hypermarket + Traders)
    The core E-mart hypermarkets and Traders warehouse clubs earn from offline shoppers. FY2025 standalone gross revenue was KRW 17.966tn (+5.9%) and Traders KRW 3.85tn (+8.5%), reflecting a recovery in the core.
    Mentions KO Kyobo Securities Published May 14, 2026: E-mart 1Q26 review: improving results, target ₩130,000 (Kyobo Securities)
    Mentions EN E-mart English Investor Relations Published Mar 31, 2026: E-mart Financial Information (Investor Relations)
    Confirms KO DART E-mart Annual Report (FY2025) Published Mar 18, 2026: E-mart Inc. Business Report (FY2025)
    Confirms KO Shinsegae Group Newsroom Published Feb 11, 2026: E-mart 2025 operating profit KRW 322.5bn, up 584.8% YoY
  • 스타벅스코리아(SCK컴퍼니) 소비자 High confidence· Amount ₩3.238 · FY2025 · SCK Company (Starbucks Korea) revenue (KRW tn)
    E-mart consolidates Starbucks Korea (SCK Company) and books its coffee-chain revenue. FY2025 SCK revenue was KRW 3.238tn (+4.4%) with operating profit KRW 173bn (-9.3%) as cost inflation pressured margins.
    Confirms KO DART E-mart Annual Report (FY2025) Published Mar 18, 2026: E-mart Inc. Business Report (FY2025)
    Confirms KO Newdaily Biz Published Feb 11, 2026: Starbucks Korea Q4 operating profit down 22% to KRW 37.7bn on cost inflation
  • 이커머스 소비자 (SSG닷컴·G마켓) Medium confidence
    The online subsidiaries SSG.com and Gmarket generate e-commerce revenue but both remain loss-making, weighing on E-mart's consolidated profitability (FY2024: SSG.com revenue KRW 1.576tn, operating loss KRW 72.7bn; Gmarket KRW 961.2bn, operating loss KRW 67.4bn).
    Confirms KO DART E-mart Annual Report (FY2025) Published Mar 18, 2026: E-mart Inc. Business Report (FY2025)
    Confirms KO Business Post Published Feb 12, 2025: SSG.com and Gmarket losses weigh on E-mart's digital transition

Pays to

  • Starbucks High confidence· Market share 67.5% · 2021~ · E-Mart stake in SCK
    E-Mart became the largest shareholder of Starbucks Coffee Korea (SCK) with 67.5% in 2021. SCK operates about 1,500 Starbucks stores in Korea under license and pays royalties to Starbucks.
    Confirms EN GIC Published Jul 27, 2021: Starbucks Transitions Retail Business in South Korea to E-Mart and GIC
  • 상품 매입원가 (제조사·벤더, 비공개) High confidence
    As a retailer, its largest cost is merchandise cost of goods sold, sourced from many manufacturers and vendors. Individual suppliers are undisclosed.
    Confirms KO DART E-mart Annual Report (FY2025) Published Mar 18, 2026: E-mart Inc. Business Report (FY2025)
  • Orion High confidence
    Choco Pie, Poca Chip and Kkobuk Chip are stocked across E-mart and domestic mass retail; a core domestic channel.
    Confirms KO E-mart Mall (SSG.COM) Published Jan 1, 2025: Orion Choco Pie, E-mart mall listing
  • 물류·점포 운영·인건비 (비공개) Medium confidence
    Logistics and delivery, store leases and operations, and personnel costs are the main components of SG&A. Individual providers and contracts are undisclosed.
    Confirms KO DART E-mart Annual Report (FY2025) Published Mar 18, 2026: E-mart Inc. Business Report (FY2025)
  • CJ CheilJedang Medium confidence
    Collaborates with Shinsegae's retail trio including E-mart, with an E-mart-exclusive Hatban SKU; a core domestic offline channel.
    Confirms KO Topdaily Published Jun 1, 2024: CJ CheilJedang partners with Shinsegae retail trio; E-mart-exclusive Hatban
  • PepsiCo Low confidence
    E-Mart purchases and sells PepsiCo products such as Pepsi, a carried brand with undisclosed purchase share.
    Confirms KO E-Mart Mall (SSG) Published Jul 5, 2026: E-Mart Mall cola/carbonated beverages category
  • Nestle Low confidence
    E-Mart purchases and sells Nestlé products such as Nescafé and Nespresso coffee and confectionery, a carried brand with undisclosed purchase share.
    Confirms KO E-Mart Mall (SSG) Published Jul 5, 2026: E-Mart Mall Nestlé search
  • The Coca-Cola Company Low confidence
    E-Mart purchases and sells Coca-Cola products in stores and on its online mall, a carried brand with undisclosed purchase share.
    Confirms KO E-Mart Mall (SSG) Published Jul 5, 2026: E-Mart Mall cola/carbonated beverages category

Investments

  • RB Tentpole Co-Invest (P) Offshore, LP High confidence· Amount $1B · announced 2026-10-06; payment date scheduled 2026-10-03 · Disclosed consideration for STARFIELD PROPERTIES acquiring 100% of RB Tentpole Co-Invest (P) Offshore, LP; not a direct Skydance ownership percentage
    STARFIELD PROPERTIES, a U.S. subsidiary within E-mart’s Shinsegae Property chain, disclosed a $1 billion decision to acquire 100% of a Cayman investment vehicle for indirect exposure to newly issued PSKY-WBD merger shares. The 100% refers to the vehicle, not Skydance. Cash remittance, ultimate share count, economic stake, and Warner IP licence terms are not disclosed.
    Confirms KO FSS DART Published Oct 6, 2026: E-mart decision to acquire securities by subsidiary
    Confirms KO Shinsegae Group Newsroom Published Oct 6, 2026: Shinsegae Group announces investment in Warner Bros. acquisition
    Confirms EN Seoul Economic Daily Published Oct 6, 2026: Shinsegae to Invest $1 Billion in Paramount’s Warner Bros. Takeover
    Mentions EN Skydance Investor Relations Published Oct 6, 2026: Paramount completes Warner Bros. Discovery acquisition
    Mentions KO Shinsegae Group Newsroom Published Oct 10, 2024: Shinsegae Hwaseong signs Paramount theme park licensing agreement

Value-chain ripple (2 tiers)

Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.

CompanyChain'21'22'23'24'25YTD
E-mart Inc.node-18.4-19.5-25.3-14.6+44.7-17.1
The Coca-Cola Companybenef1+11.4+10.6-4.4+8.9+15.6+27.7
Starbucks Corpbenef1+11.1-13.2-1.2-2.5-5.3+26.3
Orionbenef1-18.4+29-25.5+10.6+18.7+11.9
Nestlé S.A.benef1+22.1-4.2-9.3-18.8-1.8+11
PepsiCobenef1+20.6+6.8-3.3-7.6-1.8-2.2
CJ CheilJedangbenef1-17.7+1.1-14.5-15.7-8.9-12
LyondellBasell Industries N.V.benef2+5.1-1+20.7-17.4-36+51.6
Archer-Daniels-Midland Companybenef2+37.3+40-20.4-27.5+18.2+41.8
Bunge Global SAbenef2+45.9+9.3+3.8-20.7+18.6+35.7
International Flavors & Fragrancesbenef2+41.5-28.3-19.5+6.3-18.4+27.5
Smurfit Westrock plcbenef2+17.3-28+14.1+37.6-26.2+22
Live Nation Entertainment, Inc.benef2+62.9-41.7+34.2+38.4+10+21.8
Keurig Dr Pepper Inc.benef2+17.5-1.2-4.2-1.1-10.1+17
Coca-Cola Europacific Partnersbenef2+15.6+2.3+24.5+18.4+21.2+16.2
Monster Beverage Corporationbenef2+3.8+5.7+13.5-8.8+45.9+13.8
Ecolab Inc.benef2+9.4-37.1+37.9+19.3+13.2+7
Microsoftbenef2+52.5-28+58.2+12.9+15.6+4
Mettler-Toledo International Inc.benef2+48.9-14.8-16.1+0.9+13.9-3.5
The Kroger Co.benef2+45.4+0.4+5+36.9+4.3-4.6
Salesforce, Inc.benef2+14.2-47.8+98.5+27.8-20.2-12.9
Adobe Inc.benef2+13.4-40.7+77.3-25.5-21.3-23.9
LigaChem Biosciencesbenef2-26.2-18.1+37.1+151+60.5-63.9

YTD as of 2026-10-20 · source: Yahoo Finance

E-mart rebounded 44.7% in 2025 and was down 17.1% through October 20, 2026. Price gaps between food suppliers and the retail channel alone do not prove revenue propagation. The $1 billion decision concerns a U.S. subsidiary’s purchase of a Cayman investment vehicle, separate from hypermarket operating expense. Skydance was down 46.4% over the same year-to-date period; WBD’s 262% pre-closing gain was an event return converging on a cash takeover price. There is no demonstrated investment-return pass-through from E-mart to Skydance. The disclosed 100% stake is in the vehicle and establishes neither Skydance voting control nor IP ownership. Shinsegae Hwaseong’s 2024 Paramount theme-park licence was a separate contract. The remaining tests are an executed Warner IP licence, incremental store visits and sales, and the vehicle’s ultimate share count, distributions and valuation. Without those observations, the proposed link from content capital to retail profit remains unverified.

Analysis generated from returns as of 2026-10-20

Analyst ratings

Consensus: Buy 2 · Hold 0 · Sell 0 · Avg. target ₩140,000 · Price ₩73,500 (10-20) · Upside +90%

BrokerRatingTargetPublished
Kyobo SecuritiesBuy₩130,000May 14, 2026Report ↗
Hanwha Investment & SecuritiesBuy₩150,000Apr 6, 2026Report ↗

Keeps Buy on improving 1Q26 operating profit (+11.9%) and Homeplus restructuring tailwinds, but cuts the target to KRW130,000 from KRW150,000 on a wider unlisted-subsidiary discount.

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