Jung Yong-jin Promoted to Chairman... "Overcoming Crisis with Strong Leadership"

Jung Yong-jin, Executive Vice Chairman of Shinsegae Group, was promoted to Chairman on the 8th. This promotion comes 18 years after he became Vice Chairman in 2006. Chairwoman Lee Myung-hee will continue her role as the Group's General Chairwoman, overseeing Shinsegae Group.

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Shinsegae Group announced that this personnel move was made to boldly confront the rapidly changing environment with Chairman Jung Yong-jin at the center. It signifies the intention to overcome the crisis in the distribution market with strong leadership and to lead market changes.

Accordingly, the newly appointed Chairman Jung reorganized the Management Strategy Office into a function-centered control tower at the end of last year. This was to strengthen the original role of the Management Strategy Office in supporting executive decision-making and to enable faster decision-making processes.

Shinsegae Group stated, "We are in an environment where we must strengthen the competitiveness of our existing core businesses and continuously discover new businesses," adding, "We will build an innovation system and make another quantum jump as the ‘No. 1 company’ delivering the highest customer satisfaction."

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