Shinsegae Group Chairman Chung Yong-jin will attend a Christmas dinner hosted by U.S. Vice President JD Vance, the company said Friday.
Emart's second quarter net loss decreased significantly due to cost-saving measures and improved operating profit.
Lee Myung-hee will transfer her entire 10.21 percent stake in Shinsegae Group to her daughter, Chung Yu-kyung, the current chair of Shinsegae, further advancing a planned succession.
Shinsegae Group Chairman Chung Yong-jin will buy his mother’s entire 10 percent stake in group affiliate Emart ahead of the retail giant’s previously announced split into two different entities for its supermarket and department store divisions.
Shinsegae Group and Alibaba International will form a $4 billion joint venture in 2025 to run their e-commerce sites, Gmarket and AliExpress Korea.
The possibility of Shinsegae Group Chairman Chung Yong-jin meeting U.S. President-elect Donald Trump has boosted investor sentiment for the long-underperforming stock of Emart, the supermarket chain led by Chung.
Shinsegae Group will split its department store and supermarket divisions into two separate entities, the retail giant said Wednesday.
Starbucks has agreed to sell all of its shares in Starbucks Korea, with Emart becoming majority owner and the government of Singapore taking almost a third of the stock.
Korea JoongAng Daily Sitemap
