Books
Interpark Songin’s filing for court receivership alarms publishers, offline bookstores
June 10, 2020
Concerns of the publishing industry and local offline bookstore owners are rising, as Interpark Songin, a retailer to small and medium-sized bookstores, announced Tuesday that it has filed for court receivership due to mounting losses. In 2017, e-commerce platform operator Interpark acquired a 56.2 percent stake in the book retailer, which at the time was under court receivership, for 4 billion won ($3.36 million). Interpark said that it has since been working hard to normalize the business