Jung Yoo-kyung Promoted to Chairman of Shinsegae... 'Sibling Management' Group Separation Accelerates

Shinsegae Executes 2024 Regular Personnel Changes
Chairman Chung Yong-jin Promoted, Followed by Sibling Chairman
Chung Yoo-kyung Leads Department Store Division

Jung Yoo-kyung, General President of Shinsegae Group, was promoted to Chairman of Shinsegae Co., Ltd. on the 30th. This marks the formal separation of Emart and Shinsegae affiliates, as Jung Yoo-kyung, the daughter, was promoted just over nine months after Jung Yong-jin, the eldest son of Lee Myung-hee, General Chairperson of Shinsegae Group, was promoted in March.

Chung Yoo-kyung, Chairwoman of Shinsegae.
Photo by Asia Economy DB

Shinsegae Group announced on the same day through the 2025 regular executive personnel appointment that Jung Yoo-kyung would be promoted to Chairman of Shinsegae. It has been nine years since Jung Yoo-kyung was promoted to General President of Shinsegae in December 2015, and she will now lead the department store division. The group stated, "Chairman Jung's promotion is to strengthen responsible management and lay the foundation for affiliate separation," adding, "The group will be divided into two main pillars: the department store division and the Emart division, aiming for new growth. Starting with this personnel appointment, we plan to pool capabilities to ensure smooth affiliate separation in the future."

Shinsegae Group began preparations for affiliate separation in 2019 by establishing the department store division and Emart division so that Shinsegae and Emart could effectively serve as holding companies. Through this, the department store division has developed department stores, fashion & beauty, duty-free, and outlet businesses, while Emart has focused on large discount stores as the core, along with Starfield, Starbucks, convenience stores, and supermarkets.

The group explained, "This year is considered an appropriate time to start affiliate separation, as a successful turnaround is becoming visible in terms of strengthening profitability through recovery of core business competitiveness, which has been prepared behind the scenes."

(From left) Kang Seung-hyeop, CEO of Shinsegae Food; Kim Hong-geuk, CEO of Shinsegae International Beauty & Life Division; Song Man-jun, CEO of Emart24.
[Photo by Shinsegae Group]

This personnel appointment is significant as it is the first personnel move in Chairman Jung Yong-jin's first year in office. In particular, it reflects the group's intention to actively select talent based on capabilities under the principle of meritocracy, where 'rewards go to those with achievements.'

First, Han Chae-yang, Vice President and CEO of Emart, will be promoted to President. Since the personnel reshuffle last September, Han has been leading the three distribution companies?Emart, Emart Everyday, and Emart24?focusing all efforts on strengthening core business competitiveness.

Song Man-jun, Head of Emart PL & Global Business Division, has been appointed as CEO of Emart24. This is a strategic move to strengthen the 'No Brand-centered convenience store model' introduced this year. Kang Seung-hyeop, Head of Shinsegae Property Support Headquarters, was appointed as CEO of Shinsegae Food, which continues innovation through recent business adjustments.

(From left) Kim Jaeseop, CEO of Shinsegae Baseball Team, Jeon Sangjin, CEO of Chosun Hotel & Resort.
[Photo by Shinsegae Group]

Kim Hong-geuk, CEO of Shinsegae Casa, will concurrently serve as CEO of Shinsegae International's Beauty & Life Division. Jeon Sang-jin, Head of Emart Support Headquarters, has been appointed CEO of Chosun Hotel & Resort, and Magi Hwan was recruited externally as CEO of Shinsegae L&B.

Kim Jae-seop, in charge of planning and management at Emart, was selected as CEO of the Shinsegae Baseball Team. The group explained that this means that talented individuals will be appointed as CEOs regardless of rank to enable performance creation.