Shinsegae Group has promoted Jung Yu-kyung, president and chief operating officer, to chairman to lead the department store division. This is a strategy to separate the group into department store and Emart divisions to secure new growth drivers. Shinsegae Group began preliminary preparations for subsidiary separation starting in 2019, and with improved profitability through recovered core competitiveness this year, the timing for separation has arrived. This personnel change is part of efforts to continue strengthening core competitiveness through emergency management system following Chairman Jung Yong-jin's appointment. Additionally, the company plans to deploy talented professionals with expertise in each division to accelerate performance creation.
