Ex-SSG.com CEO Lee In-young joins Sangmidang as CFO

Sangmidang Holdings has appointed Lee In-young (pictured), the former CEO of SSG.com, as its chief financial officer.

Lee began work at Sangmidang Holdings in the CFO role on Monday, according to industry sources. The move marks his return to the retail sector nearly two years after he stepped down as SSG.com's chief executive in June 2024.

Industry watchers see the appointment as a bid to shore up profitability. Sangmidang Holdings posted a net loss of 42.3 billion won (about $28 million) last year.

Lee, born in 1969, graduated from Seoul National University with a degree in business administration before earning an MBA from Yale University.

He joined Gmarket in 2006 as head of its finance division and later served as head of financial operations and head of support. After Shinsegae Group acquired Gmarket in 2021, he took on concurrent roles overseeing E-mart's digital new business task force, Gmarket's support division and SSG.com's support division. He was named co-CEO of SSG.com alongside former E-mart CEO Kang Hee-seok in 2023 but stepped down nine months later.