Emart

Impact: Emart, a subsidiary of Shinsegae, owns Starbucks Korea. It is directly implicated in the controversy due to its ownership, though its shares saw gains after the apology, suggesting a less severe direct market impact than Starbucks Korea itself.

Impact: Emart is the owner of the No Brand label and was in a master franchise agreement with Robinsons Retail Holdings for its operation in the Philippines. The partnership is ending with the store closures.

Impact: Emart, an affiliate of Shinsegae Group, owns Starbucks Korea and its executives will undergo the same history and social sensitivity training as Starbucks Korea headquarters staff.

Impact: Emart, a Shinsegae affiliate, holds a 67.5% stake in Starbucks. The controversy could affect its financial performance and brand.