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Shinsegae Group, Korea`s second-largest retailer, said Monday that Chung Yong-jin, the son of the group`s owner, has been promoted to chief executive officer of Shinsegae Co., its flagship company, according to the Yonhap News.
Chung, 41, joined the company in 1995 and served as Shinsegae Group`s vice chairman, the group said.
He is the second-largest shareholder of Shinsegae with a 7.2 percent stake, following Lee Myung-hee, his mother and the group`s chairwoman, with 17.3 percent. Lee is also the younger sister of former Samsung Group Chairman Lee Kun-hee.
The flagship company`s business line ranges from high-end to discount retail.
Chung, 41, joined the company in 1995 and served as Shinsegae Group`s vice chairman, the group said.
He is the second-largest shareholder of Shinsegae with a 7.2 percent stake, following Lee Myung-hee, his mother and the group`s chairwoman, with 17.3 percent. Lee is also the younger sister of former Samsung Group Chairman Lee Kun-hee.
The flagship company`s business line ranges from high-end to discount retail.
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