Han Chae-yang under spotlight in Shinsegae executive reshuffle

President Han Chae-yang

A notable figure in the 2024 executive reshuffle at Shinsegae Group is Han Chae-yang, who was promoted from vice president to president.

His promotion reflects the South Korean retail giant’s commitment to strengthening its core business competitiveness.

Han is the only executive promoted to president in the latest reshuffle. He has concurrently served as chief executive officer of Emart Inc., Emart Everyday Inc., and Emart24 Inc. since September 2023, leading the group’s offline retail sector amid a domestic economic downturn, with a focus on improving profitability.

His role as a “relief pitcher” is considered highly successful, as he played a pivotal role in reversing Emart’s first-ever loss in 2023.

The company has been on a positive trajectory since Han took over. Emart’s standalone revenue and operating profit for the first half of 2024 were 7.35 trillion won ($5.33 billion) and 72.2 billion won respectively.

The appointment of Kim Jae-seop, an executive of Emart in charge of planning and management, to head Shinsegae’s baseball club is also considered exceptional.

This is the first time in the conglomerate’s history that an executive-level individual has been appointed as the head of an affiliate, reflecting Shinsegae’s determination to select talent based on merit, rather than hierarchy, to enhance its core business competitiveness and profitability in an emergency management environment.

The actual separation of Shinsegae Group‘s affiliates, meanwhile, is expected to take at least another two years.