Shinsegae Group Overhauls Strategy Office, Puts Unit Under Chairman Chung Yong-jin

Shinsegae Group said it is moving to overhaul its Management Strategy Office, the group’s control tower, as it seeks faster and bolder innovation amid rapid changes in the retail environment.
 
The company said on the 29th that it has begun practical procedures for a broad reorganization of the office to turn it into an innovation unit with stronger execution and a focus on identifying future growth engines. It said the central aim is to deliver “faster and more accurate innovation.”
 
Shinsegae said it plans to reshape the office into an organization that drives bold internal challenges while presenting a new vision to lead South Korea’s retail market, adding that the goal is ultimately to increase customer satisfaction.
 
As part of the restructuring, Shinsegae said it has ended Lim Young-rok’s dual role as head of the Management Strategy Office and CEO of Shinsegae Property.
 
Lim will now focus fully on his post at Shinsegae Property, where he will concentrate on major projects including Starfield Cheongna and Hwaseong Starbay City, the group said.
 
Until the reorganization is completed and a new strategy chief is formally appointed, Shinsegae said it will run the Management Strategy Office under Chairman Chung Yong-jin and ensure the control tower carries out its core functions.