April 25, 2024

• 

[THE INVESTOR] Lee Boo-jin has been reappointed CEO of Hotel Shilla for another term at a shareholders meeting held at Samsung Electronics headquarters in Seoul on March 24. 

The eldest daughter of Samsung Chairman Lee Kun-hee has been heading the hospitality and duty-free business since 2011 and was reappointed in 2014. 

“The economy was sluggish and growth remained slow last year while conflicts have been escalating due to political uncertainties at home and abroad,” said the CEO, emphasizing that the company is facing an unprecedented challenges. 

The duty-free industry, in particular, has been burdened by heightening competition as the number of operators has increased, making it harder to secure profits and growth, noted Lee. 

She forecast that the market landscape changes will accelerate, while profit declines. Despite the challenges, Lee said the company will seek to ensure internal stability, but also pursue change and innovation.

By Hwang You-mee (glamazon@heraldcorp.com)