Major retail and food companies held their annual general meetings on Wednesday and laid out plans to break through challenges posed by high exchange rates, elevated prices and geopolitical risks by expanding investment and diversifying their businesses. Going beyond simple profitability defense, the companies are simultaneously pursuing mid-to-long-term growth strategies including nurturing new brands, building global production bases and innovating store formats.
Kim Dong-chan, CEO of Samyang Foods, said at the shareholder meeting held at the company's headquarters in Jung-gu, Seoul, "We will move beyond the existing 'Buldak'-centered approach to expand new brands and categories that contribute to revenue and profitability." The company's "Maeptaeng" brand is preparing new products targeting the Southeast Asian market, while its "Tanggle" brand aims to pioneer the global cup pasta market. Samyang Foods said it is pushing ahead with construction of a factory in Jiaxing, China, while pursuing parallel strategies to expand market share in the U.S. and Europe and extend its regional footprint in the Middle East and Southeast Asia.
Kim Seung-hwan, CEO of Amorepacific, presented global market expansion across North America, Europe, India, the Middle East, China and Japan, strengthening growth categories such as derma and makeup, and artificial intelligence-based management innovation as this year's core priorities at the meeting. Kim Sang-jun, CEO of Aekyung Industrial, announced a fresh start as a Taekwang Group affiliate, pledging to strengthen brand competitiveness centered on skincare to leap forward as a global beauty company. The goal is to raise the share of cosmetics revenue from about 32% last year to more than 50% by 2028, and to enhance synergies between skincare brands such as "Signik" and "One Thing" and existing color cosmetics brands.
The retail sector outlined plans for store innovation, new openings and business structure transformation. Hyundai Department Store said it will open "The Hyundai Busan" at Busan Eco Delta City in 2027, followed by a premium outlet in Gyeongsan, North Gyeongsang Province in 2028, and "The Hyundai Gwangju" in 2029. E-Mart is converting large stores into mixed-use complex formats with enhanced experiential elements, while also undertaking facility improvements at about 30 locations.
Hanwha Galleria outlined a strategy at the meeting to boost both asset value and profitability through the reconstruction of its luxury goods hall and real estate development. Hyundai Home Shopping plans to shift its business structure from a channel-centric to a product-centric model and build a one-source multi-channel system to strengthen content competitiveness.
Min Seung-bae, CEO of BGF Retail, said, "We will apply AI technology across our entire business to enhance operational efficiency while strengthening our 'hyper-localization' strategy in overseas markets." He added, "We will boost the competitiveness of CU stores in countries where we already operate, while simultaneously entering new countries to drive global expansion."
