BGF, Promotion of President Hong Jung-guk, Eldest Son of Hong Seok-jo, to Vice Chairman

Joined in 2013... Served as Head of Strategic Planning Division
Will Strengthen New Growth Engines and CVS Business Competitiveness

On the 2nd, BGF Group held a board meeting and promoted Hong Jeong-guk, the eldest son of Chairman Hong Seok-jo and the CEO of BGF, to Vice Chairman of BGF and Vice Chairman of BGF Retail. Min Seung-bae, head of BGF Retail's Sales Development Division, was promoted to the new CEO.

The newly appointed Vice Chairman Hong Jeong-guk joined BGF Group in 2013 and served as head of the Strategic Planning Headquarters and head of the Management Strategy Division. Since 2019, he has been serving as CEO of BGF. Vice Chairman Hong has focused on discovering new growth foundations across the group and strengthening global capabilities through the successful overseas expansion of the convenience store CU. With this personnel change, the group plans to actively foster new growth engines, strengthen the competitiveness of the trend-sensitive CVS business, and further enhance responsible management of its core affiliates.

Jungguk Hong, Vice Chairman and CEO of BGF and Vice Chairman of BGF Retail
[Photo by BGF Retail]

Min Seung-bae, the new CEO of BGF Retail, is a 'convenience store expert' who has dedicated 28 years to the field. Since joining BGF Group in 1995, he has held positions such as project development team leader, head of communications, head of human resources and general affairs, and head of the sales development division. He is highly regarded for his organizational management skills, backed by extensive field experience and expertise gained through leading key departments within the company, giving him deep insight into the convenience store business and the company as a whole. Known for his approachable leadership style, he communicates openly with employees, remembers each employee’s personality and characteristics, and is well respected within the company.

New CEO Min plans to secure CU’s differentiated competitiveness to take a step forward in the domestic CVS market after 30 years and actively pursue entry into emerging overseas markets to grow CU into a global CVS company.

Meanwhile, Lee Geon-jun, who led the growth of CU, the number one convenience store since 2019, has been appointed as an advisor to assist the management by providing advice on overall business operations.

A BGF Group official stated, "With this generational change in management, we will actively promote new changes and innovations within the organization to further solidify the foundation for future growth amid an uncertain distribution environment."