Chung Yoo-kyung promoted to chairman of Shinsegae… Emart and Shinsegae Department Store to split into separate affiliates.

Shinsegae Group Conducts First Regular Executive Reshuffle Under Chairman Chung Yong-jin After His Inauguration
Accelerates Spin-off With Improved Performance… Merit-based Appointments Included
Promotes Han Chae-young to President of E-Mart… Appoints Song Man-jun as CEO of E-Mart 24, “Chung Yoo-kyung, General President of Shinsegae, has been promoted to Chairman. Shinsegae Group announced the executive reshuffle for 2025, effective on the 30th, including the promotion of Chairman Chung.”

Chung Yoo-kyung, the new Chairman of Shinsegae. [Photo=Shinsegae Group]

The new Chairman, Chung Yoo-kyung, is the eldest daughter of Lee Myung-hee, General Chairman of Shinsegae Group, and the younger sister of Shinsegae Chairman Chung Yong-jin. She has been promoted to Chairman nine years after being promoted to General President in December 2015, and she will now lead the department store sector.

Shinsegae Group explained that Chung Yoo-kyung’s promotion to Chairman is meant to strengthen responsible management and build a foundation for spin-offs.

This move is aimed at separating the group into two main divisions—department stores and E-Mart—fostering new growth. Starting with this reshuffle, the group plans to pool resources to facilitate smooth spin-offs in the future.

Shinsegae Group began preparations for a spin-off in 2019 by establishing separate divisions for department stores and E-Mart, allowing Shinsegae and E-Mart to function as the de facto holding companies.

Through these preparations, the department store sector has expanded its market competitiveness, led by Shinsegae Department Store, and engaged in fashion, beauty, duty-free, and outlet ventures. Meanwhile, the E-Mart sector has been strengthening its position as a leader in customers’ lifestyle needs, focusing on E-Mart, Starfield, Starbucks, convenience stores, and supermarkets.

In 1997, Shinsegae Group achieved independence from Samsung Group, and as of 2023, the group achieved remarkable performance with total sales surpassing 71 trillion won, growing into the top domestic retail company.

During this period, department stores established overwhelming competitiveness in their regions, and E-Mart became the top hypermarket in Korea with 153 stores. The group also built strong competitiveness across lifestyle areas such as Starfield, Starbucks, duty-free, fashion, beauty, and e-commerce.

This year, the department stores continued to achieve record sales in the first half. E-Mart is also leveraging its main business competitive strengths to improve profitability, having increased operating profit by 51.9 billion won compared to last year and is expected to recover to 2020 levels on an annual basis.

Shinsegae Group sees this year as the optimal time to increase growth momentum through spin-offs based on these performance successes.

(From left) Song Man-jun, CEO of E-Mart 24, Kim Hong-geuk, CEO of Shinsegae International’s Beauty & Life Division, and CEO of Chosun Hotel & Resort. [Photo=Shinsegae Group]

This reshuffle is significant as it is the first during Chung Yong-jin’s tenure as Chairman. The group intends to reflect its commitment to further accelerate growth by actively appointing talent based on capability, following the principle of rewarding results.

Since Chung Yong-jin’s inauguration in March, under an emergency management system, the group has been focusing on maximizing profitability by strengthening core business competitiveness, and in 2025, it aims to continue and enhance this approach by placing talent in the right positions.

To this end, Han Chae-young, Vice President and CEO of E-Mart, has been promoted to President. The promotion is expected to speed up efforts to strengthen core business competitiveness.

Song Man-jun, Head of E-Mart’s PL/Global Business Division, has been appointed CEO of E-Mart 24. This is intended to strengthen the “No Brand-centered convenience store model” introduced this year. Kang Seung-hyeop, Head of Support Headquarters at Shinsegae Property, has been appointed CEO of Shinsegae Food, which is undergoing innovation through recent business restructuring.

Kim Hong-geuk, CEO of Shinsegae Casa, will also serve as CEO of Shinsegae International’s Beauty & Life Division. Jeon Sang-jin, Head of Support Headquarters at E-Mart, has been appointed CEO of Chosun Hotel & Resort, and Ma Ki-hwan has joined from outside as CEO of Shinsegae L&B.

Kim Jae-seop, Director of Planning and Management at E-Mart, has been appointed CEO of Shinsegae Baseball Team. This move signifies the intention to appoint those with the necessary capabilities to executive positions regardless of rank, enabling outcome-driven possibilities.

Shinsegae Group said, “This departure from the uniform personnel system of the past provides continuous motivation for the organization members. For the company as a whole, it is expected to broaden the effective use of talent.”

(From left) Kang Seung-hyeop, CEO of Shinsegae Food, and Kim Jae-seop, CEO of Shinsegae Baseball Team. [Photo=Shinsegae Group]