Musinsa, Korea's leading online fashion platform, announced a major organizational restructuring on Thursday, adopting a "dual-track management system" that separates business operations from support functions while strengthening C-level executive accountability.
The company appointed Cho Nam-sung as co-CEO effective January, overseeing all business support functions including legal, finance, public relations, and human resources.
Cho will also serve as Chief Human Resources Officer (CHRO), leading organizational culture reform and collaboration among support divisions.
Under the new structure, Musinsa will operate with a co-CEO system: founder Cho Man-ho leading business operations and Cho Nam-sung heading business support functions.
Park Joon-mo, who has served as co-CEO since March last year, will transition to an advisory role starting January to provide support from behind the scenes, sources said.
The company is also introducing C-level executive accountability across all business areas.
Musinsa will grant independent decision-making authority to area-specific executives including Chief Commerce Officer (CCO), Chief Brand Officer (CBO), Chief Global Officer (CGO), Chief Technology Officer (CTO), Chief Financial Officer (CFO), Chief Legal Officer (CLO), Chief Public Relations Officer (CPRO), Chief Human Resources Officer (CHRO), and Chief Detail Officer (CDeO). The company will strengthen its compensation and accountability system based on annual performance evaluations.
The company explained that the restructuring was necessary as its business structure has become increasingly complex, expanding beyond an online fashion platform to include offline store expansion, beauty and lifestyle category enhancement, and overseas market entry. The existing horizontal organization structure was deemed insufficient for efficient decision-making.
The strategy is to maintain the "agile culture" that has been in place since the company's startup days while implementing a systematic management framework to accommodate its growing scale.
The move is interpreted as an effort to establish a sophisticated and stable management system required for its anticipated initial public offering (IPO).
"In a rapidly changing market environment, experts in each field including brand, commerce, and technology need to operate with clear responsibility and authority," a Musinsa official said. "This restructuring will be the starting point for Musinsa to establish an advanced management system on par with global big tech companies."
