Korea: LG abandons wine import business
Korea: LG abandons wine import business
Apr 15, 2012 6
(KoreaJoongAngDaily) -LG International Corporation, a trading arm of LG Group, will pull out of its in-the-red wine importing business and instead focus on the company’s major business segment of natural resources development, the company said Friday.
Twin Wine currently imports 3,000 different kinds of wine from 30 brands in 12 countries.
“We aim to complete the entire pull-out within the first half of this year,” said an official at LG International Corp. “This is to achieve our long-term goal of becoming a company specialized in resources development. We’re currently looking into whether to sell Twin Wine off to an investor or dismantle it.”
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