Jason Huang, vice president of Shinsegae Group, has been appointed as an inside director of Emart's U.S. subsidiary. He is a capital market expert.
According to a financial supervisory service electronic disclosure on the 18th, Huang was listed as an inside director at three companies last year, including Emart's U.S. subsidiary PK Retail Holdings, Good Food Holdings, and Winery Schaefer Vineyard.
PK Retail Holdings is a subsidiary established by Emart in 2018 for its U.S. operations, acquiring 100% equity of the local supermarket chain Good Food Holdings to operate it.
Emart had a strong performance in the U.S. market last year. PK Retail Holdings' annual sales last year were 2.22146 trillion won, an increase of 11.3% compared to the previous year, while operating profit surged to 42 billion won, growing more than double by 101.0%.
Huang is expected to lead the 'new game' for U.S. operations. Born in 1970, Huang graduated from Columbia University in the U.S. and is recognized as a corporate finance expert, having served as the head of JP Morgan’s Asia Markets Division, head of Citigroup’s Asia Markets Division, and head of Shinhan Financial Investment’s Corporate Finance Division.
After joining Shinsegae Group in June last year, he has been leading the group's financial management, participating in major projects such as attracting investment of 1.2 trillion won to SSG.com and establishing a joint venture with China's Alibaba.
Emart plans to continue opening new supermarket outlets in the U.S. this year, seeking new growth opportunities. Chung Yong-jin, chairman of Shinsegae Group, is expected to further strengthen U.S. operations based on his friendship with former U.S. President Donald Trump.