[Asia Economy Reporter Lim Chun-han] Park Jeong-bu, chairman of Asung Daiso (photo), is stepping down from frontline management.
According to the distribution industry on the 6th, Daiso transitioned from a co-CEO system with Chairman Park and CEO Shin Hoseop to a single CEO system under Shin at the board meeting held at the end of last month. A Daiso official explained, "Chairman Park will retain his position as chairman," adding, "This is a shift to a professional management system."
Chairman Park founded Daiso inspired by Japan's 100-yen shops, and currently operates about 1,350 stores.
CEO Shin, formerly of E-Land, joined Daiso in 1998. He served as executive director of the store support division and has been CEO since 2018.
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