SCK Company is now the new name of Starbucks Coffee Korea, after officially requesting the name change on December 28th last year. This name change came after Starbucks Coffee International sold the rest of its shares in the Korean branch.
In July 2021, Emart bought 17.5% of Starbucks Coffee International’s 50% stake in the Korean branch, making it the largest shareholder with 67.5% — the remaining 32.5% was acquired by the Government of Singapore Investment Corporation (GIC).
As a result of Starbucks Coffee International having no shares in the Korean branch, the company can’t use “Starbucks” in the name. However, even though the name has changed, Starbucks will continue to operate in Korea in the same manner as before — branches will continue to have the Starbucks name and logo, and Starbucks Coffee International will continue to distribute the coffee beans.
In addition, SCK Company will continue to pay Starbucks Coffee International royalties of about 5%.
