The Korea Duty Free Shops Association held an extraordinary general meeting on December 29 and unanimously elected Cho Byung-jun, vice president of Hotel Shilla, as its 11th chairman, the association announced Monday.
Cho's term as chairman will run for one year from January 1 to December 31, 2025.
"The domestic duty-free industry is facing complex challenges including persistently high exchange rates and inflation, changing consumption patterns, and intensifying competition among distribution channels," Cho said in his inaugural address. "I will do my utmost to unite the association and the industry to overcome these challenges and lay the groundwork for a new leap toward sustainable growth."
Cho emphasized that the association must prioritize listening to voices from the field and serve as the center for problem-solving. "Even amid crisis, I will transform the organization to faithfully serve as the 'vanguard' that presents practical solutions to help the domestic duty-free industry maintain and expand its competitiveness on the global stage," he said.
Cho outlined key initiatives for sustainable growth of the duty-free industry, including institutional reforms to restore industry competitiveness, establishing a framework for mutual prosperity among member companies, and reorganizing the association's overall operational systems.
Cho joined Samsung C&T in 1997 and has served as head of Hotel Shilla's TR International division and as chief financial officer of Hotel Shilla. He has been serving as head of Hotel Shilla Co.'s TR division since this month.
