South Korea’s Homeplus appoints Lee Jae-hoon as CEO

He has been the CEO in various businesses such as KFC and Pizza Hut in South Korea.

South Korean hypermarket chain Homeplus has appointed Carver Korea’s chief executive officer (CEO) Lee Jae-hoon as its new CEO starting May, after Lim Il-soon resigned from the position in January, IGD reported.

Lee has shown decades of CEO experience leading various businesses, including KFC Korea, Pizza Hut Korea. Lee began his career at the Bank of Korea as a trader in 1989, after he graduated from the University of Pennsylvania's Wharton School MBA program.

Homeplus has seen its revenues as well as operating profits dwindle in recent years, IGD noted. During the fiscal year of 2019 (from March 2019 to February 2020), the company's annual revenue stood at $6.5b (KRW7.3t), a 5% fall from the previous year.

The company is also expected to have a further fall in revenue and profits during the March 2020 to February 2021 period due to the economic shock from COVID-19. Homeplus also closed a few of its regional branches.

“The attention is now on whether he could turn around Homeplus’ deteriorating revenues,” IGD’s senior retail analyst Jiong-Jiong Yu said.

Also Read

GOELIA expands with 9 new store openings in China and Singapore

Gentle Monster opens first flagship boutique in Australia

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit