SEOUL, Mar. 8 (Korea Bizwire) — Chung Yong-jin, heir apparent of South Korea’s Shinsegae Group, has been promoted to chairman to help the retail giant ride out unfavorable business environments and meet rapidly changing customer demands, the group said Friday. Shinsegae Group, which operates the country’s biggest discount store chain and second-biggest department store chain, [...]
SEOUL, Jan. 10 (Korea Bizwire) — A Cold War-era slogan calling for “annihilating communism” has sprung back to life in South Korea’s presidential race after a business tycoon used the expression to criticize China and North Korea and conservatives turned it into a meme. Shinsegae Group Vice Chairman Chung Yong-jin prompted the creation of the [...]
SEOUL, July 29 (Korea Bizwire) — From eBay Korea to Starbucks Coffee Korea, Shinsegae Group vice chairman Chung Yong-jin’s aggressive M&A strategy is attracting significant attention. E-Mart Inc., a discount store chain under Shinsegae Group, bought an additional 17.5 percent stake in Starbucks Coffee Korea on Tuesday, paying 474.2 billion won (US$412 million) to become [...]
SEOUL, Jun. 10 (Korea Bizwire) — Shinsegae Group Vice Chairman Chung Yong-jin appears to have stepped up foreign market research ahead of the retailer’s launch of a premium grocery store in the United States next year. According to posts of Chung’s Instagram account, he appeared to have visited a food exhibition in the Netherlands last [...]
SEOUL, Dec. 8 (Korea Bizwire) — Shinsegae Group vice chairman Chung Yong-jin’s business acumen is making headlines, with the success of the Starfield shopping complexes and the decision to cut employee working hours down to 35 per week from next year. The plan to slash working hours to help improve employee work-life balance was announced [...]
SEOUL, Jun. 1 (Korea Bizwire) — The de facto head of Shinsegae Co., South Korea’s leading retailer, confirmed Wednesday that the company is pulling its discount chain unit out of China. Shinsegae Vice Chairman Chung Yong-jin told reporters of the pullout at a job exhibition held in Ilsan, northwest of Seoul. Local media have reported [...]