Shinsegae Chairman’s Stake Rises to $1.3 Billion as Shares Gain 220 % in Broad Market Rally

Chung Yoo-kyung, chairman of South Korean luxury department store operator Shinsegae, reached a net worth of $1.3 billion as of the June 26 market close, Forbes reported. Her 29% stake benefited from a 220% year-to-date rise in the company's shares through that date. Shinsegae reported first-quarter 2026 revenue of 1.85 trillion won, an 11% increase from a year earlier.

Net income nearly doubled to 145 billion won in the same period. The company operates 13 department stores, including its flagship Shinsegae Gangnam location in Seoul, which generated nearly 3 trillion won in revenue in 2025, and Shinsegae Centum City in Busan, the world's largest department store by floor area at 293,905 square meters.

Hana Securities analyst Park Jong-dae said in a June report that Shinsegae stands to gain from higher luxury spending by Kospi investors after the index rose 95% year-to-date through June.

The retailer has no direct connection to semiconductor production yet outperformed Samsung shares during the period. Shinsegae traces its origins to Donghwa Department Store, founded in 1955 and acquired in 1963 by Samsung founder Lee Byung-chull, who renamed it. The business operated as a Samsung Group subsidiary until a 1997 spinoff.

In May 2025, Chung's mother transferred her remaining 10% stake to Chung as part of a family succession plan. Chung, 53, holds a bachelor's degree in visual design from Ewha Womans University and a master's degree from the Rhode Island School of Design. She was named to Forbes Asia's Power Businesswomen list in 2025.