BGF Retail CEO Min Seung-bae said Monday that the company would "create more reasons for customers to visit CU through a shift in thinking and a transition to a sales-centered business structure."
Speaking at the company's ninth annual general meeting held at BGF's headquarters in Gangnam, Seoul, Min said the company would "simultaneously pursue the discovery of new categories and the strengthening of expertise in existing categories, while building online and delivery hubs through large urban stores."
Min also unveiled plans to strengthen data- and technology-driven business strategies. "We will internalize artificial intelligence capabilities across all areas including field operations, marketing and logistics," he said. "We will launch company-wide research and development efforts to apply AI to actual operations and deliver results."
On the global front, Min added, "In overseas markets, we will establish customized strategies for the four countries where we have already entered under the keyword of 'hyper-localization,' and continue expanding into new countries."
All agenda items, including the reappointment of Min as an inside director, were approved as originally proposed at the shareholders' meeting, BGF Retail, the operator of CU convenience stores, said.
Key agenda items included: △approval of the ninth fiscal year financial statements, △partial amendments to the articles of incorporation including the removal of the clause excluding cumulative voting, △appointment of inside directors Min Seung-bae and Lee Yun-sung, △appointment of outside director Shin Hyun-sang as an audit committee member, and △approval of the executive compensation cap.