Credit Card Spending Plummets 20% Amid Backlash Over Shinsegae Chairman’s Apology

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Shinsegae Group Chairman Chung Yong-jin Issues Formal Apology Following Starbucks Korea Marketing Controversy

Shinsegae Group Chairman Chung Yong-jin has issued a formal, public apology regarding the recent “Tank Day” marketing event held by Starbucks Korea. The controversy, which centered on an event conducted on May 18—the anniversary of the 5.18 Gwangju Democratization Movement—has prompted significant public discourse and led to a high-level response from the company’s leadership.

Addressing the Controversy

On May 26, 2026, Chairman Chung held a press conference at the Josun Palace Hotel in Seoul to address the fallout. During the proceedings, he offered a direct and personal apology, stating, “I sincerely apologize and ask for your forgiveness.”

From Instagram — related to Gwangju Democratization Movement, Starbucks Korea

The Chairman acknowledged the severity of the situation, noting that the marketing strategy implemented by Starbucks Korea had caused significant distress and anger among the public. In his remarks, he specifically recognized the pain felt by the bereaved families of the 5.18 Gwangju Democratization Movement and the family of Park Jong-cheol, as well as the citizens of Gwangju and the broader public.

“Whatever the reason, I am responsible for causing pain to the hearts of the people,” Chung stated. “I will not make any excuses. All responsibility for this matter lies with me. It is my fault.”

Corporate Accountability and Future Commitments

This event marks the second time the Chairman has addressed the public regarding the incident, following an initial apology statement issued on May 19. The company has conducted an internal review of the event planning process; however, officials stated that they found no evidence of intentional malice behind the campaign and noted that the issue was not raised during the internal approval process.

'Starbucks Controversy' Shinsegae Chairman Chung Yong-jin Issues Public Apology: "I Beg for Your …

Looking forward, Chairman Chung emphasized a commitment to historical awareness within the organization. “All members of the Shinsegae Group, including myself, will remember the history and sacrifices of our society and will always deeply understand and respect the hearts of the people,” he said.

Key Takeaways

  • Direct Responsibility: Chairman Chung Yong-jin has accepted full personal responsibility for the “Tank Day” event controversy, explicitly rejecting the use of excuses.
  • Public Impact: The event, which occurred on the anniversary of the 5.18 Gwangju Democratization Movement, drew widespread criticism for its perceived insensitivity.
  • Internal Review: Shinsegae Group reported that while the event occurred, internal investigations did not uncover evidence of an intentional effort to cause offense, pointing instead to a failure in the internal vetting process.
  • Organizational Pledge: Leadership has committed to increasing sensitivity toward national history and public sentiment in all future marketing and corporate activities.

Background on Shinsegae Group Leadership

Chung Yong-jin has served as the Chairman of Shinsegae Group since 2024. He has been a prominent figure in the retail sector, having joined the company in 1995 and serving in various executive roles, including Vice Chairman, before assuming his current position. His tenure has been marked by efforts to modernize the group’s retail footprint and expand its influence in the Korean market.

Key Takeaways
Gwangju Democratization Movement

As the company moves past this incident, the focus remains on whether these public commitments will translate into tangible changes in corporate governance and marketing oversight to prevent similar occurrences in the future.

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