Starbucks Korea to close all stores early on June 22 for nationwide staff training after backlash

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โดย Reuters·Read original
Summary · why it matters

Starbucks Korea will close all of its stores across the country at 3 p.m. on June 22 to conduct staff training focused on historical awareness and social sensitivity, operator Shinsegae Group announced on Monday. The decision follows public backlash over a recent marketing campaign that was seen as evoking the 1980 military crackdown on pro-democracy protesters, which led to a very significant decline in sales. A history professor from Sungkyunkwan University will deliver a lecture covering major events in South Korea's modern and contemporary history since the 1950s. This marks the first nationwide early closure since Starbucks Korea opened in 1999, and the company also plans to strengthen its marketing review process by introducing a social-sensitivity checklist covering areas such as history, commemorative dates, politics, disasters, military issues, gender, violence, and hate expressions. Starbucks Korea operated more than 2,000 stores at the end of 2024 and is South Korea's leading coffee chain according to data firm WISEAPP.

Impact on stocks 2

Consumer Discretionary▼ · 2 stocks
Shinsegae
004170
▼ NegativeDemandrelevance

Shinsegae Group, as operator, faces sales decline and operational disruption from early closure and backlash.

Starbucks Corporation
SBUX
▼ NegativeDemandrelevance

Starbucks Korea's sales decline due to backlash reflects potential brand damage, but Starbucks Corporation is not directly mentioned.

Off-coverage companies 2

Starbucks KoreaPrivate▼ Negative
Demandrelevance

Starbucks Korea's sales declined significantly due to public backlash, leading to early closure for training.

WiseApp/WiseRetailPrivate± Mixed
relevance

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