Shinsegae Group to split department store and supermarket divisions

Shinsegae Group will split its department store and supermarket divisions into two separate entities, the retail giant said Wednesday.

Shinsegae Group chairperson Chung Yong-jin, left, and president Chung Yu-kyung [YONHAP]

Shinsegae Group will split its department store and supermarket divisions into two separate entities, the retail giant said Wednesday.

However, the group declined to specify the timing of the separation, only mentioning that the latest reshuffle is aimed at supporting upcoming plans.

In the annual appointment, president Chung Yu-kyung was promoted to chairman of Shinsegae.

This comes nine years after Chung was appointed president of Shinsegae Group in December 2015. Her brother, Chung Yong-jin, heads Shinsegae Group as chairperson and oversees the supermarket division.

Even under the current structure, the department and supermarket divisions — Shinsegae Department Store and Emart — have been operating independently while under the same Shinsegae umbrella.

The department store division has focused on expanding its fashion and beauty retail, while Emart operates other retail marketplaces, mainly centered on groceries, including Starfield, coffee chain Starbucks Korea and convenience store Emart24.

BY KIM JU-YEON [kim.juyeon2@joongang.co.kr]