Shinsegae Group Chairman Jung Yong-jin (정용진) will directly head 2 of the group’s core affiliates. Shinsegae Group said on June 8 that Jung is expected to be appointed chief executive of E-Mart and Shinsegae Property.

Shinsegae Property will hold a board meeting to recommend Jung as a registered director, then put the appointment to a shareholders meeting. The process will be completed after the board appoints him as co-CEO. E-Mart plans to designate Jung as co-CEO during this year’s regular executive appointments, and make the final appointment through next year’s shareholders meeting.

Jung said he takes seriously the market’s demand that he bear clear responsibility for company management. He said he would, as CEO, be evaluated by the board and shareholders. The E-Mart CEO, as the representative of Starbucks Korea’s largest shareholder, is responsible for the board’s composition and company operations.

If Jung also becomes CEO of E-Mart and Shinsegae Property, the number of affiliates where he participates as a board member will become 3. Jung was appointed chair of the board of AG Global Holdings, a joint venture with Alibaba International, last year and is leading efforts to restore Gmarket’s competitiveness. Shinsegae Property is also the company overseeing practical work for building an AI data centre announced after it signed a business agreement with U.S.-based Reflection AI in March.

Shinsegae Property named Lee Hyung-chun (이형천), former head of its development division, as a professional manager to serve as co-CEO alongside Jung. Lee will take charge of pending projects including the construction of Starfield Cheongna, while Jung will oversee mid- to long-term vision-setting and corporate value enhancement. Shin Dong-woo (신동우), head of the support division at Shinsegae Property, was named as the incoming CEO of Starbucks Korea. The company said Shin plans to make preparing a reform plan to strengthen internal controls and restore trust at Starbucks Korea his top priority.