Shinsegae owner's son promoted to CEO

SEOUL, Nov. 30 (Yonhap) -- Shinsegae Group, South 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.

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.
ksnam@yna.co.kr
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