Korea Philip Morris Appoints Former Google Global Director Baek Young-jae as New CEO

[Asia Economy Reporter Lee Seon-ae] Philip Morris Korea announced on the 25th that Baek Young-jae, former Google Global Director, will be appointed as the new CEO. Baek is scheduled to officially take office in mid-March, and the company plans to continue innovating its business and organization to more rapidly realize its corporate vision of a "smoke-free future" under his new leadership.

Baek, the new CEO, has built his career over the past 20 years working across various industries including consulting, large corporations, global gaming companies, and IT firms.

After earning a Ph.D. in Cultural Anthropology from Yale University, he began his career at McKinsey & Company in 2000. In 2003, he joined CJ Group, where he was responsible for strategy development in the media and entertainment sectors. Returning to consulting in 2009, Baek led marketing and sales projects at Booz & Company.

In 2011, he expanded his career into the gaming industry by becoming the CEO of Blizzard Entertainment Korea, famous for StarCraft. Within a year and a half of joining, he nearly doubled the company's sales and established a corporate culture of collaboration through teamwork, gaining attention in the gaming industry. In 2015, he joined Google as a Global Director, contributing to the rapid growth of global digital advertising sales, and since 2019, he has also overseen global technology client management for the Asia-Pacific region.

Baek expressed, "I sincerely resonate with the company's vision of a 'smoke-free future' and am honored to join Philip Morris Korea. I am very pleased to work as a leader of a company that leads the industry based on science and transforms consumers' lives through innovative products." He also emphasized, "I will do my best to ensure the company's innovation continues to provide better choices for adult smokers in Korea and contribute to public health."

Meanwhile, Jeong Il-woo, who has led Philip Morris Korea for nine years since 2011 and contributed to the company's growth, has been newly appointed to oversee strategic projects in East Asia and Australia and will relocate to Hong Kong, where Philip Morris International's Asia headquarters is located. In 2017, Jeong successfully led the domestic launch of the innovative heat-not-burn IQOS and its dedicated tobacco product HEETS, and completed the establishment of HEETS mass production facilities at the Yangsan plant in Gyeongnam through a bold investment of approximately 300 billion KRW.