Chung Hyung-kwon, the former head of Alibaba Korea, has been appointed as the CEO of Gmarket, an e-commerce unit owned by Shinsegae Group. This move is part of a larger restructuring effort at the Korean retail giant, which is facing financial challenges due to operational losses. With a background in finance, e-commerce, and fintech, Chung is expected to strengthen Gmarket's foundation and improve its profitability. In addition to Chung's appointment, Kim Jeong-woo, a former Naver executive, has been named as Gmarket's chief product officer, while Oh Cham, previously with Coupang, will lead Gmarket's tech division. This new tech division aims to enhance the company's capabilities in areas like artificial intelligence, which is seen as crucial for future e-commerce growth. Shinsegae Group has expressed its commitment to ongoing innovation in its online platform, aiming to solidify its position as a market leader in Korea's retail industry.