GS Retail replaces vice chairman

GS Retail vice chairman Huh Seung-jo stepped down from his post in the latest executive reshuffle announced by GS Group on Tuesday.

He has been replaced by his nephew and GS Retail president Huh Yeon-soo, the son of Huh Shin-goo — the fourth son of the GS Group founder.

The new appointment reflects the firm’s efforts to reinvigorate its operations.

The resignation of Seung-jo, the youngest son of GS Group founder Huh Man-jung, signals the end of the leadership of the second-generation members of the controlling family.

Meanwhile, the incoming vice chairman is credited with having made significant contributions to the growth of GS Retail’s convenience store business in Korea.