Min Seung-bae, CEO of BGF Retail, said on the 26th that the company will expand the reasons customers choose CU by shifting its mindset and moving to a sales-centered business structure.
Min presented this direction at the ninth regular shareholders meeting held at the BGF headquarters in Gangnam-gu, Seoul, saying, "We will pursue both the discovery of new categories and the strengthening of expertise in existing product lines, and build online and delivery hubs based on large urban-format stores."
Min also mentioned advancing operating strategies using data and technology. Min said, "We will embed artificial intelligence (AI) capabilities across all areas, including field operations, marketing, and logistics," adding, "We will ramp up companywide research and development with the goal of generating tangible results."
Min also discussed plans to expand global operations. Min said, "In overseas markets, we will adopt 'hyper localization (ultra-localization)' as a core strategy to strengthen tailored operations in the four countries where we have already entered, and we will continue to pursue entry into new countries."
At the shareholders meeting, all key agenda items, including Min's reappointment as an inside director, were approved as originally proposed. The items submitted were: ▲ approval of the ninth-term financial statements ▲ amendments to the articles of incorporation, including the deletion of the clause excluding cumulative voting ▲ appointment of inside directors Min Seung-bae and Lee Yoon-sung ▲ appointment of outside director Shin Hyun-sang as a member of the audit committee ▲ approval of the cap on directors' remuneration.