Ex-Alibaba Korea chief tapped to be Gmarket’s new CEO

(From left) Chung Hyung-kwon and Choi Hoon-hak

Shinsegae Group announced a major shakeup of its e-commerce division leadership due to its underwhelming performance and appointed Chung Hyung-kwon, former head of Alibaba Korea, as Gmarket’s new CEO.

To enhance the quality of its e-commerce services against Chinese e-commerce competitors, Shinsegae Group recently committed to a business collaboration with CJ Group and is now undergoing significant personnel changes. The South Korean company’s appointment of Chung to lead Gmarket is seen as a strategic move to leverage his extensive experience in the sector.

Chung is expected to bring a wealth of expertise to Gmarket from his roles as the head of Alibaba Korea and Alipay’s representative for Europe, the Middle East, and Korea. He also worked at global investment banks including Goldman Sachs and Credit Suisse, as well as holding the financial executive position at Coupang. Chung holds bachelor’s, master’s, and doctorate degrees from Brown University in the United States.

In addition to Chung’s appointment, Choi Hoon-hak was named the new CEO of SSG.com, another key e-commerce unit under Shinsegae Group. Choi, who graduated from Hankuk University of Foreign Studies’ Law Department, joined Shinsegae Group in 2000, has held various positions, including marketing roles at Emart and head of sales at SSG.com, and will carry out his duties as the CEO and head of sales at SSG.com moving forward.