CEO Park Joohyung of Shinsegae: "Enhancing Shinsegae's Status as the K-Department Store"

Shinsegae Holds 69th Annual General Meeting of Shareholders on the 24th
Pursuing Mixed-Use Developments in Gwangju, Songdo, and Suseo to Secure Foundation for Future Growth

Shinsegae has presented its management goal of enhancing its status as a "K-Department Store" by focusing on "luxury" and "foreign customers" as core pillars.

Shinsegae held its 69th regular general meeting of shareholders at 10 a.m. on the 24th at Post Tower, Sogong-ro, Jung-gu, Seoul.

During his welcome remarks, CEO Park Joohyung stated, "We will establish the perception that Shinsegae represents the K-Department Store for foreign customers," adding, "We will strengthen our strategy to attract global customers by providing a comprehensive experience that combines shopping with culture and tourism."

Shinsegae held the 69th regular general shareholders' meeting on the 24th at 10 a.m. at Post Tower, Sogong-ro, Jung-gu, Seoul. Shinsegae

The company plans to continue strengthening its luxury-focused competitiveness in its core department store business and enhance product competitiveness across fashion, lifestyle, and food and beverage (F&B) sectors. In particular, Shinsegae aims to successfully establish the Cheongdam branch's food specialty hall, "House of Shinsegae," and expand its F&B business based on this foundation.

For its mid- to long-term growth strategy, Shinsegae has highlighted large-scale mixed-use development projects in key regions such as Gwangju, Songdo, and Suseo. CEO Park explained, "We will lay the groundwork for future growth by introducing new spatial models that are organically connected beyond retail to leisure, residential, and cultural functions, centering on major projects in Gwangju, Centum City, Banpo, and Suseo."

Additionally, Shinsegae plans to expand new businesses such as VIP services, e-commerce, travel, and retail media, and to improve profitability and financial stability by leveraging AI technology for customer analysis and operational efficiency.

Meanwhile, all agenda items were approved as originally proposed at the shareholders' meeting.

The agenda included: ▲ Approval of the 69th fiscal year financial statements, ▲ Approval of certain amendments to the articles of incorporation, including the deletion of the cumulative voting system exclusion clause, ▲ Appointment of Woo Jungsub as inside director, ▲ Appointment of Choi Nanseolheon as outside director and audit committee member, and ▲ Determination of the limit for directors' remuneration.

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