Shinsegae Group has officially declared the separation of E-Mart and Shinsegae Department Store affiliates.
Shinsegae said Chairman Chung Yong-jin's younger brother, General President Chung Yoo-kyung, has been promoted to the chairman of Shinsegae Co., Ltd.
In nine years since he was promoted to the general president in 2015, Chairman Chung Yoo-kyung will take over the department store division.
Shinsegae explained its promotion background to strengthen responsible management and build the foundation for division.
As a result, Chairman Chung Yong-jin and Chairman Chung Yoo-kyung's "brother and sister management," which has continued since the division of E-Mart and department stores in 2011, is over.
Shinsegae Group has been conducting preliminary work to separate affiliates by creating the department store division and the E-Mart division in 2019 and allowing Shinsegae and E-Mart Co., Ltd. to act as a real holding company.
Born in 1972, Chung Yu-kyung became the first female entrepreneur of a conglomerate to be born after 1970.
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