Shinsegae of Korea has announced a shift in shareholding within the owner family:
Chairwoman Lee, 77, handed down an 8.22 % stake in E-Mart to her 52-year-old son Chung Yong-jin, vice chairman of Shinsegae Group, and an equal share in Shinsegae to her 48-year-old daughter Chung Yoo-kyung, president of Shinsegae Department Store.
The gift raises Yong-jin’s share in E-Mart from 10.33 % to 18.55 % and Yoo-kyung’s share in Shinsegae from 10.34 % to 18.56 % to make them the single largest shareholder in each retail entity. The second-biggest shareholder is National Pension Service that owns 13.15 % shares in E-Mart and 13.05 % share in Shinsegae. Ownership structure in Shinsegae is relatively simpler than other family-owned chaebol names in Korea.

The group separated E-Mart and Shinsegae in 2011 by putting the son and daughter in charge of different business units. According to commentators, the equal inheritance reflects Lee’s will to prevent sibling feud over management by splitting their roles and responsibilities.