He was born in 1974 in Denizli, completed his secondary education at Antalya High School in 1991, and then pursued his university studies at Gazi University, Faculty of Economics and Administrative Sciences, Department of Public Administration, graduating in 1995. He later earned a Master of Business Administration (MBA) degree from the University of Exeter in 2010.

Hemet Karadag started his professional career in 1998 and has been a board member of the Capital Markets Board since 2012, becoming deputy chairman of the board of directors on April 1, 2016. He served as chairman of the board of directors and the executive committee of the Istanbul Stock Exchange and the Central Registry Authority in 2016 and 2018. He was appointed a member of the board of Directors of the Turkish Wealth Fund on January 19, 2017, where he later served as general director and chairman of the board from September 7, 2017, to September 12, 2018.

Since August 13, 2018, Hemet Karadag has held the position of deputy chairman of the board of directors at Halkbank (People's Bank). On January 1, 2023, he became a founding partner at Oragon Real Estate Portfolio Management and Venture Capital Portfolios.