[Edaily Reporter KYUNG GYEYOUNG ] It has been confirmed that Shinsegae Co.,Ltd. has joined the Daewoo Kiwoom-CJ Corp. consortium to pursue the acquisition of JoongAng Ilbo.

According to industry sources on the 20th, Shinsegae Co.,Ltd(004170)has also joined the Daewoo Kiwoom-CJ consortium, which was selected as the preferred bidder for the acquisition of JoongAng Ilbo. Shinsegae Co.,Ltd confirmed, “It is true that we have joined the consortium,” but did not disclose its stake.

Previously, SamIl Accounting Firm, the lead advisor for the JoongAng Ilbo sale, selected the Daewoo Kiwoom-CJ Corp. consortium as the preferred bidder following an evaluation of candidates who participated in the final bidding round the previous day. The acquisition price they proposed is estimated to be in the 500 billion won range, and they are expected to inject new capital through a third-party private placement.

Shinsegae Co.,Ltd is an affiliate of Chairwoman Jeong Yu-kyung, the daughter of Shinsegae Group Chairwoman Lee Myung Hee. Centered around Shinsegae Department Store, the group operates businesses in fashion and beauty (SHINSEGAE INTERNATIONAL), duty-free (Shinsegae DF), and hotels (Shinsegae Central).

With Shinsegae Co.,Ltd’s entry into the race, the broader Samsung family—excluding Samsung itself—appears to be rallying behind the acquisition of the JoongAng Ilbo. This comes as CJ Corp. Chairman Lee Jay-Hyun, the grandson of the late Samsung founder Lee Byung-chul, and Shinsegae Co.,Ltd Chairman Chung Yoo-kyung, his granddaughter, have both entered the race side by side. The JoongAng Ilbo was founded by Chairman Lee Byung-chul in 1965 but was spun off from the Samsung Group in 1999.

A Shinsegae Co.,Ltd official stated, “We plan to respect the JoongAng Ilbo’s unique identity and expertise while linking it with Shinsegae Co.,Ltd’s premium cultural platforms and lifestyle content to create synergy between the two companies.”