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[WSJ] Agabang Founder Sells as Birthrate Slides

September 8, 2014
South Korea’s birthrate last year fell to the lowest level on record: 8.6 babies for every 1,000 people. This compares with 31.2 babies born per thousand people in 1970, and ranks among the lowest worldwide. (Newsis)

South Korea’s birthrate last year fell to the lowest level on record: 8.6 babies for every 1,000 people. This compares with 31.2 babies born per thousand people in 1970, and ranks among the lowest worldwide. (Newsis)

[THE WALL STREET JOURNAL] The founder of Agabang 013990.KQ -2.15% & Company, a South Korean maker of popular baby clothes, is selling his stake in the company as growth slows at least partly because of a trend he can’t do anything about: the country’s falling birthrate.

Agabang, one the country’s top brands for baby clothes, said in a regulatory filing this week that it has signed an initial agreement to sell a 15.3% stake held by founder Kim Wook to Lime Fashion Korea for $31.4 million. [READ MORE]