E-Mart, a retail company in Korea, and GIC, a sovereign wealth fund in Singapore, agreed to acquire Starbucks Coffee Korea from Starbucks for $1.3bn. “Starbucks and E-Mart have had many conversations on how we can continue to grow the Starbucks brand in the market, which led to this decision. This transaction is the result of the strong performance and partnership we have achieved together over the past 20 years. E-Mart will continue to enhance the customer experience and social value that Starbucks has been creating, with a new partner GIC as well as Starbucks," T.J. Hyung, E-Mart Executive Vice President.