Chairman of Shinsegae Group, Jung Yong-jin. (Photo=Shinsegae Group)

 

 

[Alpha Biz= Kim Sangjin] E-Mart is ushering in the "Jung Yong-jin era" ahead of its full-scale corporate separation. Shinsegae Group Chairman Lee Myung-hee has decided to transfer her entire stake in E-Mart to her eldest son, Jung Yong-jin, Chairman of Shinsegae Group.

On January 10, E-Mart announced that Chairman Lee Myung-hee will transfer her 10% stake (2,787,582 shares) in E-Mart to Chairman Jung through off-hours trading. The transfer will occur between February 10 and March 11, with a transaction price of 76,800 won per share, which is 18.5% higher than the closing price on January 10 of 64,800 won. The total transaction amount is 214.1 billion won. Chairman Jung will use personal funds for this purchase.

Through this acquisition of all the shares owned by Chairman Lee Myung-hee, Jung Yong-jin will solidify his position as the largest shareholder of E-Mart. His stake will increase from the previous 18.56% to 28.56%.

 

 

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