UPDATE 5-Starbucks to exit S.Korea venture valued at over $2 bln – Netscape News

By Shubham Kalia and Joyce Lee Reuters * To sell 17.5% stake in JV to local partner E-Mart for $411 mln * E-Mart will own 67.5% after Starbucks exit * GIC will own 32.5% stake (Adds analyst comment, details on Starbucks’ Asia business) SEOUL, July 27 (Reuters) – Starbucks Corp is exiting its $2 billion worth joint venture in South Korea by selling stakes to local partner E-Mart Inc and Singapore sovereign wealth fund GIC, as it looks to invest more in fast-growing international markets. E-Mart, one of the largest retailers in South Korea with over 160 stores and the…