South Korea’s retail group promoted a record 36 executives in its 2027 appointments. Chung will serve as E-Mart’s co-CEO alongside Kim Hong-geuk, who will also lead SSG.com, subject to shareholder approval.
South Korea’s Shinsegae Group on Oct. 23 named Chairman Chung Yong-jin CEO-designate of discount retailer E-Mart Inc. (KRX: 139480) as part of its 2027 regular executive appointments. Chung will formally take office after a shareholders’ meeting, the group said. The appointments mark its first regular executive reshuffle since his designation for the role.
Kim Hong-geuk, CEO of Shinsegae Casa, will lead E-Mart alongside Chung and will also take charge of SSG.com. Chung already serves as co-CEO of Shinsegae Property with Lee Hyung-cheon.
Kim brings merchandising and sales experience
Kim previously headed E-Mart’s home appliances and culture unit and its merchandising division. The group said he led Shinsegae TV Shopping to profitability during his tenure as CEO and helped improve profitability at Shinsegae Casa from 2022.
Heo Min-ho, who served as CJ Olive Young CEO for 10 years, will join Shinsegae Casa as CEO from outside the group. He will also lead the cosmetics division of Shinsegae International as the company separates its fashion and cosmetics businesses under distinct management.
Management strategy office gets two new leaders
Choi Taek-won, previously SSG.com CEO, will head management support, a post overseeing group personnel and audits. Park Seung-hak, from the leisure business at Josun Hotels & Resorts, will lead external relations, which handles public and government relations. Jeon Sang-jin, executive vice president, stays in charge of group finances.
Promotions set group record
Shinsegae promoted 36 people to executive positions, the highest number in its history. Executives in their 40s now account for 18% of the group’s executive ranks, also a record. The group said the share reflects a system that develops talent based on job capability and performance.
Cosmetics unit gets separate management
Shinsegae International is splitting into fashion and cosmetics divisions with separate management. Kim Deok-ju, the unit’s CEO, will continue to lead fashion. Heo will head cosmetics while serving as Shinsegae Casa CEO. Ki In-ju, CEO of SMPMC, will lead the Shinsegae baseball club.
The division led by Chung’s sister, Chairwoman Chung Yu-kyung, kept its CEOs, including Park Ju-hyung of Shinsegae Inc., Lee Seok-gu of Shinsegae DF and Kim Young-seop of Shinsegae Simon.
E-Mart role follows Starbucks Korea promotion
Chung, who left E-Mart’s board in 2013, apologized on May 26 for Starbucks Korea’s online “Tank Day” promotion. E-Mart operates the coffee chain, and the promotion launched on the anniversary of the May 18 Gwangju uprising. On June 8, the group said Chung would become co-CEO of E-Mart and Shinsegae Property, with the E-Mart appointment to be finalized at a shareholders’ meeting next year. It said the move reflects his commitment to oversee reforms at Starbucks Korea and the group.
Chung said he takes seriously the market’s demand for clear accountability and will submit to evaluation by the board and shareholders. He became co-CEO of Shinsegae Property in June alongside Lee.
Group official cites AI shift
A group official said Chung will lead the changes directly amid an industrial shift centered on artificial intelligence. The group said the appointments aim to address current challenges and carry out future growth plans.
The group plans to make further appointments as needed, starting with this regular round, it said.
