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Starbucks Korea Has First Loss in 27 Years

Starbucks Korea Has First Loss in 27 Years

Starbucks Korea Has First Loss in 27 Years
Sales went down 6.1% from last year. The company opened 49 new stores in South Korea.
The company made people angry with a promotion in May. It was on the anniversary of a big event in South Korea's history.
The president of South Korea did not like the promotion. The CEO of Starbucks Korea lost his job.
A photo of a Starbucks store in Seoul was taken on May 21, 2026.
The chairman of Shinsegae Group said sorry on TV. He promised to fix the problem and make people trust the brand again.
Police looked at Starbucks Korea's office as part of an investigation.
The company said it lost a lot of money because of the boycott.
All Starbucks stores in South Korea closed early on June 22. Employees learned about Korean history and how to be sensitive.
Shinsegae owns most of Starbucks Korea. A fund from Singapore also owns some of it.