Major Korean retail and food companies held their annual general meetings in March, laying out strategies to navigate external uncertainties including a strong dollar, elevated inflation and geopolitical risks. The companies outlined plans to break through headwinds by expanding investment and diversifying operations while accelerating mid- to long-term growth foundations such as nurturing new brands, building global production bases and innovating store formats.
Kim Dong-chan, CEO of Samyang Foods (003230.KS), South Korea's maker of the globally popular Buldak hot chicken noodles, told shareholders at the company's headquarters in Jung-gu, Seoul on Wednesday that the company would "move beyond the existing Buldak-centric portfolio to expand new brands and categories that contribute to revenue and profitability." Maeptang, a brand targeting the Southeast Asian market, is preparing new product launches, while the company plans to pioneer the global cup pasta market through its Tanggle brand. Samyang is also pursuing construction of a factory in Jiaxing, China, while expanding market share in the United States and Europe and rolling out regional expansion strategies for the Middle East and Southeast Asia.
Kim Seung-hwan, CEO of Amorepacific (090430.KS), presented global market expansion and business advancement as core priorities at the company's shareholder meeting. The strategy centers on strengthening market presence across North America, Europe, India, the Middle East, China and Japan, while reinforcing its portfolio around high-growth categories such as derma-cosmetics and makeup. Kim said the company would simultaneously pursue AI-driven management innovation to enhance data-based decision-making and marketing efficiency.
Aekyung Industrial (018250.KS) signaled a fresh start as a subsidiary of Taekwang Group. CEO Kim Sang-jun expressed the company's commitment to growing its cosmetics business and overhauling its corporate structure. The company aims to become a global beauty player by strengthening brand competitiveness centered on skincare. It plans to raise the share of cosmetics revenue to more than 50 percent by 2028 and boost synergies between skincare brands such as Signik and One Thing and its existing color cosmetics brands.
Retailers also moved to respond through store innovation, new openings and business restructuring. Hyundai Department Store (069960.KS) plans to secure mid- to long-term growth engines by opening "The Hyundai Busan" at Eco Delta City in Busan in 2027, followed by a premium outlet in Gyeongsan in 2028 and "The Hyundai Gwangju" in 2029. E-Mart (139480.KS) is converting large stores into mixed-use complex formats with enhanced experiential elements and will also renovate facilities at some 30 locations.
Hanwha Galleria outlined a strategy at its shareholder 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, building a one-source multi-channel system to strengthen content competitiveness.
BGF Retail (282330.KS), which operates the convenience store chain CU, also placed AI and global strategy at the center of its agenda. "We will apply AI technology across all business operations to improve operational efficiency, and strengthen competitiveness in overseas markets through a 'hyper-localization' strategy," CEO Min Seung-bae said. "We will continue global expansion by enhancing store competitiveness in countries where we already operate while simultaneously entering new markets."
