Shinsegae Chairman Chung Yong-jin to take helm at E-mart, Shinsegae Property

Shinsegae Group said Monday that Chairman Chung Yong-jin will serve as CEO of both E-mart and Shinsegae Property. Shin Dong-woo, head of Shinsegae Property's support division, has been tapped to succeed Sohn Jung-hyun, the former Starbucks Korea CEO dismissed over the "Tank Day" marketing controversy.

Chung was first designated as co-CEO of Shinsegae Property. The group described the move as "a declaration to realize full accountability management as a legally registered executive CEO participating in the boards of companies that represent the group's present and future."

Shinsegae Property plans to hold a board meeting to formally appoint Chung as CEO. The process involves recommending him as a registered director, followed by a shareholder vote to approve the appointment. E-mart will designate Chung as co-CEO in this year's regular executive reshuffle, with final approval to come at next year's shareholder meeting.

Shinsegae Group said Chung's decision to take on the CEO roles reflects his determination to swiftly address pressing challenges and personally lead the group's future growth. "I take seriously the market's demand that I bear clear responsibility for the management of the company," Chung said. "Going forward, I will be accountable to the board and shareholders as CEO."

The move also signals a more hands-on approach to the group overhaul Chung pledged following the Starbucks marketing controversy. As Starbucks Korea's largest shareholder, E-mart — and by extension its CEO — carries significant responsibility for the composition of Starbucks Korea's board and the company's operations.

With the new appointments, Chung will sit on the boards of three group affiliates, including AG Global Holdings, the joint venture Shinsegae Group formed with Alibaba International last year.

Shinsegae Property is also the company overseeing the practical groundwork — including site selection — for an AI data center project announced through a memorandum of understanding with US-based Reflection AI in March. Having personally signed that MOU, Chung will now take charge of the project portfolio as the company's CEO.

Alongside Chung, Shinsegae Property has designated Lee Hyung-cheon, former head of its development division, as a professional co-CEO. Lee will lead immediate projects including the construction of Starfield Cheongna and work with Chung on major development initiatives.

Meanwhile, Starbucks Korea has tapped Shin Dong-woo, head of Shinsegae Property's support division, as its new CEO. Shin previously served as head of Starbucks Korea's strategic planning division and will prioritize strengthening operational systems and internal controls while working to restore public trust.