[Exclusive] Jung Yongjin and Jung Yookyung to Attend Frieze Seoul Together Amid Group Spin-Off

Siblings Pursuing Separate Management, United in Art
Jung Yongjin Oversees Group Partnership; Jung Yookyung Leads Art Management
Strengthening Shinsegae’s Premium Brand Through Frieze

Chung Yongjin, Chairman of Shinsegae Group, and Chung Yoo-kyung, Chairwoman of Shinsegae Co., Ltd., will both attend the world-renowned art fair 'Frieze Seoul 2026.' Attention is being drawn to the fact that the Shinsegae owner siblings, who have been solidifying independent management systems through the separation of their business units, will be standing together at the same event, with 'art' as the connecting factor.

According to the business community on September 2, both Chairman Chung Yongjin and Chairwoman Chung Yoo-kyung are scheduled to visit Frieze Seoul, which opens today at COEX in Gangnam-gu, Seoul.

Their joint attendance is significant, especially as this year Shinsegae Group has been elevated to the role of Headline Partner for Frieze Seoul. Shinsegae Group will serve as the Headline Partner for a five-year period from this year through 2030—the first time a Korean retail company has held this position.

This partnership is said to have been directly managed throughout by Chairman Chung Yongjin. The move is aimed at securing customers' 'time and experience' through culture and art content, as well as expanding the department store-focused 'art marketing' strategy group-wide as a brand initiative.

The reason the retail industry is investing in the arts is that it allows them to broaden their connection with core customers. In particular, Frieze brings together domestic and international galleries, collectors, and high-net-worth individuals. By going beyond simply sponsoring an art event, Shinsegae can strengthen the premium image it pursues and provide content that extends both the time and experiences of key customers.

Chairwoman Chung Yoo-kyung has been the force behind Shinsegae's 'art management.' Having studied graphic design at the Rhode Island School of Design (RISD) in the United States, she has integrated art and fashion to reinforce Shinsegae Department Store's premium strategy. Shinsegae has continuously sought to combine culture and the arts with its shopping spaces through in-store galleries and art exhibitions.

In particular, Chairwoman Chung Yoo-kyung's attendance is drawing notice as she has rarely appeared at official events in the past. After first making an official public appearance at the opening ceremony of Daegu Shinsegae in 2016, her public activities have been few. Her attendance at the 'Shinsegae×Frieze VIP Party' in 2023 marked her first official appearance in about seven years. At that time, Chairman Chung Yongjin also visited the venue. This marks the first time in three years that both siblings are making a public appearance at Frieze again.

An industry insider commented, "While the boundaries of their businesses are splitting, the two continue to find common ground in the field of culture and the arts under the Shinsegae brand."

Frieze Seoul, organized by the global art magazine Frieze, has been held in Seoul since 2022 as the first Frieze art fair in Asia. Marking its fifth edition this year, the event is drawing growing attention from the business community. As one of the world's top five art fairs, it attracts domestic and international high-net-worth individuals, business figures, and gallery representatives, making it a key venue where retail, finance, and fashion companies can engage with VIP clients. For companies, the event is expected to offer not only opportunities to support culture and the arts but also to boost brand image and attract high-spending customers.

Meanwhile, Shinsegae Group is on the verge of a sibling-led split of its business units. The last point of connection between the two sides, SSG.com, is expected to be split into grocery and lifestyle divisions, which will be taken over respectively by Emart and Shinsegae. Once the process is completed, including the extraordinary shareholders' meeting scheduled for late October and the split on December 1, and with the resolution of their respective equity stakes, the separation between Chairman Chung Yongjin's Emart group and Chairwoman Chung Yoo-kyung's Shinsegae group will be virtually finalized.

This content was produced with the assistance of AI translation services.