Sharing Services Global Corporation (SHRG) Announces It Has Secured Direct Selling License in South Korea

Rhea-AI Summary

Sharing Services Global Corporation (OTCQB: SHRG) announced its acquisition of a Direct Selling License in South Korea, advancing its Asia Expansion Plan. The company plans to launch soon, aiming to leverage South Korea's position as the third-largest direct selling market globally. Key executives, including CEO John “JT” Thatch and director Fai Chan, expressed optimism about growth opportunities in both Asia and the U.S. The company is preparing for pre-launch activities in South Korea, marking a significant step towards its global expansion strategy.

Positive

• Acquisition of Direct Selling License in South Korea, expanding market presence.
• South Korea is the third-largest direct selling market, indicating potential for substantial growth.
• Local team with extensive experience in South Korea's direct selling sector to guide expansion efforts.

Negative

• None.

PLANO, Texas, March 04, 2021 (GLOBE NEWSWIRE) -- via InvestorWire – Sharing Services Global Corporation (OTCQB: SHRG) (the “Company”), formerly Sharing Services, Inc., is pleased to announce that through one of its subsidiaries, it has obtained its Direct Selling License in South Korea, as part of its Asia Expansion Plan. The Company will be making plans to launch in that country soon.

“We will be announcing additional products and services as this launch is planned in the near future, but for now, we are very pleased to share this exciting news,” stated John “JT” Thatch, CEO of SHRG.

“South Korea is the third largest direct selling market globally. This marks a significant start to our global expansion plans and will set the stage for growth both in the U.S. and in Asia simultaneously,” stated Fai Chan, SHRG director. "We are glad to have a local Korean team that has tremendous experience both in South Korea and in the direct selling space to head up our expansion efforts in guiding the Company to achieve greatness and success in the right way."

“We are honored to have the opportunity to expand The Happy Co. into the country of South Korea,” said Bo Short, CEO of Elevacity Holdings, LLC and Elevacity International Holdings, LLC. “We are excited for our global family of Brand Partners and their ability to connect our business platform to entrepreneurs and customers in the great country of South Korea.”

Short added, “We will be strategizing next steps as we focus on announcing our pre-launch activities in this new market in the coming weeks.”

About Sharing Services Global Corporation

Sharing Services Global Corporation (OTCQB: SHRG), formerly Sharing Services Inc., is a publicly traded company dedicated to maximizing shareholder value through the acquisition and development of innovative companies, products and technologies in the direct selling sector and other industries. The Sharing Services combined platform currently leverages the capabilities and expertise of various companies that market and sell products direct to the consumer through independent contractors.

For more information, visit www.SHRGInc.com and www.thehappyco.com 

Additional information is contained in the Company’s 10-Q and 10-K filings with the Securities and Exchange Commission.

Forward-Looking Statements
The statements contained in this press release that are not purely historical facts, or that depend upon future events, may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements regarding the Company's expectations, hopes, beliefs, intentions, or strategies regarding the future, including the Company's operating margin and rolling average annual growth in tangible book value per share, constitute forward-looking statements. Prospective investors are cautioned not to place undue reliance on forward-looking statements, that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those projected in the forward-looking statements because of various factors. All forward-looking statements included in this document are based on information available to the Company on the date hereof and the Company assumes no obligation to update any such forward-looking statements. Prospective investors should also consult the risks described from time to time in the Company's Annual Reports on Form 10-K, Quarterly Reports on Form10-Q and Current Reports on Form 8-K and Annual Reports to Shareholders.

Company Contact:
Sharing Services Global Corporation
Investor Relations
(469) 304-9400 Ext 201
Info@SHRGinc.com

Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com

FAQ

What recent development has SHRG announced regarding its operations in South Korea?

SHRG has obtained a Direct Selling License in South Korea as part of its Asia Expansion Plan.

Why is the South Korean market significant for SHRG?

South Korea is the third-largest direct selling market globally, presenting significant growth opportunities for SHRG.

What are SHRG's plans following the acquisition of the Direct Selling License?

SHRG plans to launch its products and services in South Korea and will announce pre-launch activities soon.

Who are the key figures involved in SHRG's expansion plans in South Korea?

John 'JT' Thatch, CEO, and Fai Chan, director, are leading the expansion efforts in South Korea.