From Those Born in 1953 to 1989
Increasing Internal and External Uncertainties
Focus on Discovering Competitiveness and Future Growth Amid Growth and Recession Crossroads
Last year, the distribution industry suffered from severe domestic demand slumps due to the prolonged economic downturn. Many distribution companies had to undergo ups and downs, including workforce restructuring. This year’s situation is not much different. In fact, the aftermath of the emergency martial law incident that broke out at the end of last year and the inauguration of the second term of the U.S. Donald Trump administration have heightened domestic and international uncertainties. The Year of the Blue Snake, Eulsan Year, which arrived amid such a crisis, is expected to be a crossroads of growth and stagnation for the distribution industry. It is a time to enhance business competitiveness while discovering future growth engines. We take a closer look at the snake zodiac leaders who must undertake and lead this task.
Based on birth years disclosed in the Financial Supervisory Service’s public announcement data on the 1st, snake zodiac leaders include Kim Yoon, chairman of Samyang Group; Choi Byung-oh, chairman of Fashion Group Hyungji; Han Chaeyang, CEO of Emart; Jung Junho, CEO of Lotte Department Store; Lee Seonjeong, CEO of CJ Olive Young; Heo Seohong, vice president and CEO of GS Retail; Heo Jinsu, president of SPC Group’s Paris Croissant; Kim Dongseon, vice president of Hanwha Galleria and Hanwha Hotels & Resorts; and Dam Seowon, executive director of Orion Korea.
The oldest snake zodiac leaders are Kim Yoon, chairman of Samyang Group, and Choi Byung-oh, chairman of Fashion Group Hyungji. Samyang Group, led by Chairman Kim, produces products such as 'Q-One' and 'Sangkwaehwan,' and plans to strengthen its business portfolio this year focusing on health & wellness and advanced materials. Last year, the 100th anniversary of its founding, Chairman Kim set the company’s goal as 'growth through change and innovation,' emphasizing three management policies: 'specialty and global-centered business portfolio advancement,' 'cash flow-centered management,' and 'acceleration of digital transformation.' He also urged, "As we enter a new 100 years, I ask all employees to have a sense of mission and strive for the group’s growth through change and innovation."
Choi Byung-oh, chairman of Fashion Group Hyungji, is regarded as a self-made CEO. Since launching Crocodile Lady in 1996, Fashion Group Hyungji has successively acquired prestigious fashion brands such as Esquire, Elite School Uniforms, and Castelbajac, currently operating over 200 stores nationwide with 20 brands. In 2022, marking the company’s 40th anniversary, Chairman Choi consolidated all affiliates into the new headquarters, 'Hyungji Global Fashion Complex Center,' located in Songdo International City, Incheon. From there, he is promoting global business expansion, including the re-export of Castelbajac and expanding Elite School Uniforms’ entry into Asia.
Leaders born in 1965 include Han Chaeyang, CEO of Emart, and Jung Junho, CEO of Lotte Department Store. CEO Han stepped onto the management mound as a savior when the company recorded its first operating loss since its founding. Over the past year, he focused on strengthening core business competitiveness through extensive store renovations and price competitiveness strategies. He also absorbed and merged Emart Everyday to improve efficiency in purchasing and logistics operations and reorganized the organization. Additionally, he implemented voluntary retirement for cost reduction to enhance management efficiency. These efforts led to a return to profitability, and this year, he is expected to maintain this momentum while strengthening the core business competitiveness of large marts.
CEO Jung, who joined Shinsegae Department Store in 1987 and built experience in the fashion sector before moving to Lotte in 2019, has a unique career path. Last year, he launched 'Time Villas,' a fusion of department stores and shopping malls. He has presented a blueprint to invest 7 trillion won by 2030 to establish about 10 Time Villas domestically and internationally, aiming to achieve annual sales of 6.6 trillion won through this initiative.
Born in 1977, Lee Seonjeong, CEO of CJ Olive Young, is a merchandise planning (MD) expert. She joined CJ Olive Young in 2006 with experience in the MD team, advancing to head of the MD division and sales division before being promoted to CEO in the 2023 regular executive personnel reshuffle. She is the youngest CEO within CJ Group and the first female CEO. Under her leadership, Olive Young has become a core affiliate within the group. As of last year, annual sales are expected to surpass 4 trillion won. Olive Young is anticipated to accelerate store expansion and logistics center enlargement this year.
Heo Seohong, vice president and CEO of GS Retail, is a fourth-generation owner of GS Group and was appointed CEO in the GS Group’s regular executive personnel reshuffle in November last year. This year, Heo is expected to strengthen profitability in the convenience store business focusing on high-quality stores and pursue co-growth with franchise store owners. For the supermarket brand GS The Fresh, the focus will likely be on maintaining competitiveness in the fresh food market targeting single- and two-person households based on the O4O (Online for Offline) strategy. In the home shopping business, amid a declining market environment, the emphasis is expected to be on improving profitability.
Heo Jinsu, president of SPC Group’s Paris Croissant, was promoted in 2022 and is credited with enhancing the brand awareness and competitiveness of Paris Baguette in major overseas markets. As of October, Paris Baguette operates about 590 overseas stores in the U.S., Canada, France, the U.K., China, Singapore, Vietnam, Indonesia, Malaysia, the Philippines, and Cambodia. This year, growth plans include a halal-exclusive factory to be completed in Johor Bahru, Malaysia, and accelerating growth based on a memorandum of understanding (MOU) signed last year for entry into Middle Eastern countries. Growth toward the halal market in Southeast Asia and Middle Eastern countries, centered on existing markets in predominantly Muslim countries such as Indonesia and Malaysia, is expected to proceed in earnest.
The youngest snake zodiac leader born in 1989 is Kim Dongseon, vice president of Hanwha Galleria and Hanwha Hotels & Resorts. He has focused on securing mid- to long-term growth engines centered on the food and beverage (F&B) business. Starting with the domestic launch of the American handmade burger brand 'Five Guys,' he is also engaged in the liquor business through the establishment of Vino Galleria. Additionally, he is pursuing expansion into the 'food tech' business, the future food sector, by considering the acquisition of Ourhome, the second-largest catering company in Korea. However, with the core department store business faltering, attention is focused on what strategies he will employ to achieve a rebound.
Dam Seowon, executive director and third-generation owner of Orion Group, was promoted to executive director of the Korean corporation last year. Also serving as an inside director of Orion Rigakem Bio, he is engaged in practical management tasks across the group, including business strategy formulation and management, and global business support. Rigakem Bio is a sector the group is nurturing as a future food source alongside its food business. Industry interest is high regarding how Executive Director Dam will cultivate the group’s growth engines this year. He holds 1.22% of Orion Holdings shares and 1.23% of Orion shares. While last year focused on management training, many expect that this year will mark the full-scale succession of management rights.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
