Vice Chairman Jeong Yong-jin: "This Year is the Best Opportunity... Let's Make it a 'Year of Victory'"

Jung Yong-jin, Vice Chairman of Shinsegae Group, New Year's Address
Emphasizes 'Bul-yobul-gul' Spirit Toward Customers
Calls for Strengthening Collaboration and Communication... Encourages Embracing Diversity

Vice Chairman Jeong Yong-jin of Shinsegae Group is delivering the 2021 Shinsegae Group New Year's address on the 4th.

[Asia Economy Reporter Cha Min-young] "Abandon the past inertia of 'fighting a losing battle' and make this year 'a year of certain victory.'"

Jung Yong-jin, Vice Chairman of Shinsegae Group, made this request to employees in his 2021 New Year's address announced on the 4th.

Vice Chairman Jung stated, "After the Black Death swept through Europe, a splendid flower called the Renaissance bloomed," emphasizing that this year, when the market competition environment is rapidly reorganized due to the impact of the novel coronavirus infection (COVID-19), could rather be the best opportunity.

He continued, "In the midst of the current crisis, find new opportunities and challenge with bold thinking that changes the game to achieve sustainable growth for 10 or 20 years."

"Steadfastly Moving Toward Customers"

To this end, Vice Chairman Jung presented three key tasks: ▲ indomitable spirit toward customers ▲ smooth collaboration and communication among members ▲ organizational culture that embraces diversity.

First, Vice Chairman Jung mentioned the four-character idiom "불요불굴 (不撓不屈)" meaning "never shaken or bent, steadfastly moving toward the goal," emphasizing, "Our only target of indomitable spirit is the customer." He also stressed "fanatical focus on customers" last year.

Reiterating the "importance of customers" mentioned in last year's New Year's address, he urged employees to have a "fanatical focus" on changing customer demands to find new opportunities and to take a step further with "bold thinking" that can change customers' lifestyles.

He cited recent examples such as Shinsegae Department Store's collaboration with SSG.com’s live broadcast channel "SSG Live" to plan a cosmetics showcase for customers hesitant to visit stores due to COVID-19.

Strengthening Interdepartmental Collaboration and Communication

He also emphasized that to have a fanatical focus on customers, everyone must become "one team, one company," urging enhanced collaboration and communication among affiliates and departments, including online and offline synergies.

Vice Chairman Jung praised employees' efforts, saying, "COVID-19 presented strengths to some affiliates and departments and weaknesses to others, but we enhanced strengths and complemented weaknesses to achieve continuous growth at the group level."

He added, "Even tasks that seem impossible or difficult can reveal capabilities and assets available within the group if we break free from narrow thinking focused only on our own business," stating that such thinking is "bold thinking" and "the driving force to overcome crises."

This year, Emart significantly expanded its food section based on customer surveys and utilized some relatively spacious non-food sections as forward bases for SSG.com deliveries, maximizing online and offline synergy.

Emphasizing a Flexible Organizational Culture

Vice Chairman Jung also urged the adoption of a flexible organizational culture that accepts diverse talents with "different experiences, different expertise, and different ways of thinking" to view changing customer demands from various angles.

He emphasized, "Now is the time to look at the future not through a telescope but a kaleidoscope," stating that actively promoting internal talents with growth potential and recruiting external talents with expertise lacking in the group are essential to remain "a constantly new Shinsegae."

This means that only by having a flexible organizational culture that can produce new voices and new perspectives can "bold thinking that changes the game" leading to 10 or 20 years of growth emerge.

In particular, Vice Chairman Jung noted that the online shift in the retail market has been accelerated by at least three years due to COVID-19, and stressed the urgent need for talents who can lead digital transformation that connects online and offline based on new IT technologies.

Finally, Vice Chairman Jung concluded his New Year's address by quoting novelist Victoria Holt: "Never regret. If it was good, it was wonderful; if it was bad, it was experience," and urged, "Make this year a year to redefine Shinsegae Group yourself so as not to miss the timing to seize new opportunities."

This content was produced with the assistance of AI translation services.