"Brothers and Siblings Management" is over.Promotion of Chairman Chung Yoo-kyung and separation of E-Mart-Department Store affiliates

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.