Seo Jeong-ho, CEO of Lotte Wellfood, pushes forward a mid-to-long-term growth strategy with a two-track approach: strengthening domestic foundations and expanding overseas.

*This content was translated by AI.

Lotte Wellfood announced on the 8th that it is pursuing a mid-to-long-term growth strategy to strengthen its fundamental competitiveness and expand global operations based on a recovery in performance during the first half of the year.

Seo Jeong-ho, CEO of Lotte Wellfood, held a town hall meeting last month to review the company's first-half results with all employees and share mid-to-long-term growth challenges. The plan is to continue turning around the business by improving profitability through production and logistics efficiency and expanding overseas operations focused on strategic markets.

Domestically, the company aims to enhance operational efficiency across the entire value chain, including optimizing its production network and innovating logistics and procurement processes, while building a data-driven management system to strengthen profitability. It also plans to solidify a stable high-profit business structure by continuing marketing and portfolio management centered on core brands.

Globally, Lotte Wellfood intends to accelerate local market penetration by increasing market dominance in strategic markets such as India and Kazakhstan and nurturing key global brands like Pepero. Focusing on the newly established joint venture (JV) in Singapore, the company plans to strengthen cooperation among Korean and Japanese Lotte food affiliates and expand its overseas distribution network to maximize "One Lotte" synergies.

Lotte Wellfood recorded consolidated sales of 2.1831 trillion won and an operating profit of 100.5 billion won for the first half of this year, representing increases of 7% and 98%, respectively, compared to the same period last year. Overseas subsidiary sales rose by 23%, driving performance growth through global operations.

Seo (CEO) stated, "We have concretized our mid-to-long-term growth strategy based on the body improvement initiatives and overseas business results achieved during the first half of the year," adding, "We will continue to pursue sustainable growth by strengthening fundamental competitiveness that solidifies all aspects of our business and actively expanding into global markets."

<© STARNEWS. All rights reserved. No reproduction or redistribution allowed.>

*This content was translated by AI.