GS Shop to invest $8 million in Thailand

By Kim Yoo-chul

GS Shop, Korea's biggest home shopping channel, is planning to create a joint venture with Thailand's top media group Truevision and The Mall, its biggest offline distributor.

GS said it signed a memorandum of understanding (MOU) with the two to launch the venture, named "True GS Shopping," which will open before the end of the year.

The official signing of a contract is scheduled for later this year, GS said.

"The joint venture is tentatively named 'True GS Shopping' and it will begin broadcasting in the fourth quarter via Truevision to some 2 million paying viewers," GS spokesman Shin Jin-ho said.

GS Shop will invest $8 million in the venture and is expected to become the second-biggest shareholder in the entity. Truevision will be the largest shareholder.

Home shopping is quite new in Thailand. "Shopping Network" by Truevision is the only 24-hour TV home shopping channel.

"True GS Shopping is expected to serve as bridge to link Korea with China, Southeast Asia and India on an Asian home shopping belt," Shin said.