CJ Olive Young Voluntarily Returns Subway Line 2 ‘Seongsu Station Name’ Ticket

According to the distribution industry, CJ Olive Young is reported to have submitted an application to Seoul Metro on the 15th to return the right to use the name Seongsu Station.

Previously, CJ Olive Young participated in the bidding for the Seoul Metro’s subway ‘station name labeling sales project’ and paid 1 billion won to win the right to use ‘Seongsu (CJ Olive Young) Station’ for three years.

Olive Young has acquired the right to use the Seongsu Station name by building its first five-story K-beauty innovation store, ‘Olive Young N Seongsu’, near Exit 4 of Seongsu Station.

CJ Olive Young originally planned to use the name ‘Seongsu (CJ Olive Young) Station’ starting this month, but it has been reported that it voluntarily returned it after much deliberation.

Regarding the reason for returning the weapon license, he briefly mentioned, “I took various circumstances into consideration.”

The industry sees Olive Young as being burdened by the controversy over private companies paying to use subway station names.

Olive Young will have to pay a penalty for returning this weapon.

Olive Young said, “Regardless of the use of the secondary name, we will work with the industry to ensure that global interest in K-beauty and K-culture continues,” and “We plan to use the funds that were going to be used for the secondary name to revitalize the Seongsu area.”

Olive Young currently operates five stores in the Seongsu Station and Ttukseom Station areas, and the ‘Olive Young N Seongsu’ store will open on the 22nd of this month.

Editor. Hong Se-yeong