Bungaejangter Appoints Choi Jaehwa as New CEO
Bungaejangter CMO and COO Appointed CEO After 2 Years
[Asia Economy Reporter Kim Cheol-hyun] The secondhand trading app Bungaejangter announced on the 10th that it will appoint Choi Jae-hwa, Chief Operating Officer (COO), as the new CEO to accelerate and solidify its current growth momentum.
The newly appointed CEO Choi Jae-hwa joined Bungaejangter in March 2020 as Chief Marketing Officer (CMO), overseeing marketing and fashion business, and has served as COO since 2021, earning recognition for his performance and leadership.
Choi, who holds a Bachelor's degree in Business Administration from Korea University and an MBA from Harvard Business School, previously led domestic YouTube user marketing at Google Korea before joining Bungaejangter. He also successfully launched the Goose Island brand in the Chinese and Korean markets as the Asia Craft Beer Marketing Director at AB InBev, the world's largest beer company. Additionally, he has diverse experience including consulting corporate strategies at global consulting firm Bain & Company and founding a fashion startup.
After joining Bungaejangter as head of marketing, CEO Choi led the brand building with the slogan "Connecting Preferences." He introduced customer experience-centered campaigns such as the offline store "Beugeujeuteu Lab" and the secondhand trading festival "Parumje," and recently led the launch of an authentication service for sneaker and luxury brand transactions.
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Recently, Bungaejangter's transaction volume has increased by more than 30% for two consecutive years, achieving an annual transaction volume of 2.045 trillion won last year, continuing its growth trajectory. The new CEO Choi stated, "Secondhand trading will become a necessity, not a choice. I hope more people will engage in secondhand trading as a daily routine through Bungaejangter's safe and intuitive service." He added, "Based on the deep understanding of secondhand trading and advanced technology accumulated by the Bungaejangter team over the past several years, I will lead Bungaejangter to firmly establish itself as a 'Re-commerce tech leading company.'"
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