HiteJinro Reappoints CEO Kim In-gyu at Annual General Meeting
Kim In-gyu, CEO of HiteJinro, expressed his intention to further strengthen the dominance of the soju market, where the company is already number one, by leveraging the brands ‘Jinro’ and ‘Chamisul’.
Kim In-gyu, CEO of HiteJinro, is speaking at the shareholders' meeting held on the 24th at The-K Hotel in Seocho-gu. [Photo by HiteJinro]
On the 24th, after being reappointed as an inside director at HiteJinro’s regular shareholders’ meeting held at The-K Hotel in Seocho-gu, Seoul, Kim stated that he would solidify the company’s dominance in the soju market.
Kim said, "While the domestic liquor market growth is stagnating, competition is becoming fiercer," and diagnosed, "We are facing an unprecedented crisis due to economic recession, expanding financial risks, and shrinking consumption." He added, "We will respond flexibly to rapidly changing circumstances and practice profitability-centered management."
Kim emphasized, "With a two-brand strategy of Jinro and Chamisul and aggressive sales marketing, we will strengthen our market dominance and, as the ‘house of soju,’ we will continue to read market trends and strive to meet the flow of the times and consumer needs without neglect."
In the beer industry, the plan is to focus on ‘Terra,’ which is receiving a good response in the domestic market. Kim said, "We will continue the growth of the beer market through the Terra Re Boom Up and will work to receive favorable reviews from consumers by communicating with the MZ generation (Millennials + Generation Z)."
At the shareholders’ meeting that day, HiteJinro reappointed Kim as an inside director. Since Park Moon-duk, chairman of HiteJinro, stepped down from frontline management in 2014, Kim has overseen company management, and with this reappointment, he will have led the company for over 10 years.
At the meeting, all agenda items were approved as originally proposed, including ▲approval of the 2022 consolidated financial statements ▲cash dividends (950 KRW for common stock, 1000 KRW for preferred stock) ▲director remuneration limit (5.5 billion KRW) ▲and the new appointment of Professor Kang Myung-soo of Hansung University as an outside director.
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