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Shinsegae chair Chung Yoo-kyung to acquire mother's 10% stake

Published: 30 Apr. 2025, 18:46 Updated: 01 May. 2025, 15:54

Shinsegae [YONHAP]

Lee Myung-hee will transfer her entire 10.21 percent stake in Shinsegae Group to her daughter, Chung Yoo-kyung, the current chair of Shinsegae, further advancing a planned generational and structural succession within the family-run conglomerate.

Shinsegae Group disclosed the transaction plan in a regulatory filing on Wednesday and stated that “the decision was made to strengthen independent and accountable management within each division."

With the transfer, Chung's stake in Shinsegae Group will increase from 18.95 percent to 29.16 percent. The official transfer is scheduled for May 30.

Over the past two decades, Lee has gradually reorganized the group’s ownership structure through a series of equity transfers and stock swaps, splitting control between her two children, with son Chung Yong-jin managing Emart and daughter Chung Yoo-kyung overseeing Shinsegae.

Until the end of last year, both siblings held 18.56 percent stakes in their respective companies, while Lee retained a 10 percent share in each. In February, Chung Yong-jin acquired Lee’s entire 10 percent stake in Emart through an after-hours transaction.

With Chung Yoo-kyung now set to receive Lee’s remaining Shinsegae shares, the succession and division of the two family branches appear to be entering their final phases.

BY HYEON YE-SEUL [[email protected]]