Chung Yong-Jin Net Worth $1.1 Billion
Most of his net worth is got from Shinsegae. Recently, Chung Yong-Jin was reported to have stepped down from Shinsegae following the investigations of the labor ministry with regards to rumors the group illegally monitor workers to prohibit them from joining the union. Nevertheless, the group firmly denies that this was the reason why he quit in the company. Literally meaning “New World”, Shinsegae has its flagship store-set in Centum City, Busan. Nowadays, it is considered as the biggest department store on earth after surpassing New York City’s Macy’s department shop in 2009. Initially, Shinsegae was a portion of the Samsung Group. Nowadays, it is considered as South Korea’s biggest retailer. Currently, Lee Myung-Hee, Chung Yong-Jin’s mom, serves as the Chairman of Shinsegae. Nonetheless, Chung Yong-Jin still owns positions in Shinsegae and Samsung Electronics.