What: There is a traditional season for leadership changes in Korea, however this year a ‘perfect storm’ adds up to the context.

Why it is important: All 3 leading companies are going through some difficulties or challenges, at a moment when the Korean market is buoyant and customers are extremely demanding.

The end of the year is a traditional time for executive reshuffles in Korean department stores management; however, this year there is additional fever at Shinsegae, Lotte and Hyundai.

At Shinsegae, a crisis provoked by its Starbucks Korea subsidiary endangers the current CEO and the whole leadership structure. At Lotte, many CEOs of business units are due to leave in March 2023.

Finally, at Hyundai, a fire at the Daejeon unit last September has already started to provoke an executive reshuffle.

Executive reshuffle season in Korean department stores