BGF 2nd Generation Vice Chairman Hong Jeong-guk to Join BGF Retail as Inside Director

Resolution of Agenda at the Regular General Meeting on the 21st
Song Jitaek, Head of Innovation Division, Also Included in the List of Inside Directors

Hong Jeong-guk, the eldest son of Hong Seok-jo, chairman of BGF Group, is expected to become an inside director of BGF Retail while serving as vice chairman and CEO of BGF.

Hong Jung-guk, Vice Chairman and CEO of BGF [Photo by BGF]

BGF Retail announced on the 6th that it will hold its regular shareholders' meeting on the 21st at the BGF headquarters on Teheran-ro, Gangnam-gu, Seoul, to approve the appointment of Vice Chairman Hong and Innovation Division Head Song Ji-taek as inside directors.

Born in 1982, Vice Chairman Hong joined BGF Retail in 2013 and served as head of the Strategic Planning Headquarters and head of the Management Strategy Division before becoming CEO of BGF, the group's holding company. In the management personnel reshuffle last November, he was promoted to vice chairman of BGF and vice chairman of BGF Retail, which analysts interpret as the formal start of the succession process for management rights.