Shinsegae chief set to return as Emart CEO ahead of group split

By Maekyung News Service

Shinsegae Group is expected to appoint Chairman Chung Yong-jin as a co-chief executive officer (CEO) of Emart Inc. in its annual executive reshuffle on Friday, as the South Korean retail conglomerate prepares to strengthen independent management ahead of a potential separation of its department store and retail businesses.

According to industry sources on Thursday, the conglomerate has been notifying executives of their retirement status and is expected to announce promotions and transfers on Friday.

Chung’s return to Emart’s registered board comes after he said in June, following a controversy over Starbucks marketing, that he would take direct responsibility for Emart and Shinsegae Property and be held accountable by their boards and shareholders.

Emart is expected to nominate Chung as co-CEO in the reshuffle, with his formal appointment to be finalized at next year’s shareholders’ meeting. He took over as CEO of Shinsegae Property in June and has since overseen key new businesses, including AI data centers and the Starfield Cheongna development.

Attention is also focused on potential changes to the conglomerate’s management strategy office, its corporate control tower.

Shinsegae announced in April that it would reorganize the office to identify future growth engines and drive innovation. The position of its head has remained vacant since then, following the removal of former chief Lim Young-rok’s concurrent role.

Some observers expect the position to remain vacant or be filled by an external recruit, while other affiliates could see leadership changes and adjustments to executive responsibilities.

Meanwhile, the department store business led by Shinsegae Inc. Chairwoman Chung Yoo-kyung is expected to see relatively few changes.

Shinsegae CEO Park Joo-hyung is widely expected to remain in his post, as the division seeks to maintain its strong performance and build an independent growth base ahead of the group’s planned separation.

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