General Meeting of Shareholders Held on the 20th for the 52nd Term
Addition to Articles of Incorporation: ‘Elderly Housing and Leisure Welfare Installation and Operation Business’ etc.
Lee Boo-jin, President of Hotel Shilla, answers questions from reporters after attending the 52nd General Meeting of Shareholders held at Jangchung Headquarters in Jangchung-dong, Seoul on the 20th.
In connection with last year’s deficit in the duty-free business, President Lee Boo-jin of Hotel Shilla left a short message saying, “I will work hard.”
President Lee made these remarks after attending the 52nd regular shareholders’ meeting held on the 20th at Jangchung Headquarters in Jung-gu, Seoul. She has been serving as the chairwoman of the general meeting of shareholders for 14 years.
At this year’s meeting, Hotel Shilla approved a total of six agenda items, including △Amendments to the Articles of Incorporation △Financial Statements for the 52nd Term △Appointment of Directors △Appointment of Audit Committee Members △Appointment of Directors as Audit Committee Members △Limit on Directors’ Remuneration. Notably, they attracted attention by adding ‘comprehensive leisure business,’ ‘condominium sales and operations,’ and ‘elderly housing and leisure welfare installation and operation business’ to the business objectives in the articles of incorporation.
President Lee stated, “Many experts predict that the business environment surrounding Hotel Shilla will deteriorate further this year compared to previous years.” She emphasized, “Especially in such times, we will focus on the essence of each business, launch attractive products from the customer’s perspective, and improve profitability through optimal operational efficiencies.”
She added, “We will overcome the crisis through various and bold new attempts and lay the foundation for new growth.”
Hotel Shilla plans to preemptively introduce a variety of brands and products that meet the changing needs of travelers this year. They also intend to undertake activities to enhance interest and attractiveness in duty-free shopping, which has waned post-pandemic.
Through solid management, they are also looking to innovate their profit structure, concentrating resources on recovering profitability.
In the hotel and leisure business, they plan to expand the pipeline in optimal locations both domestically and internationally and secure growth engines not limited to Shilla Stay and Shilla Monogram. Additionally, they intend to develop tailored products that highlight the local characteristics of each hotel.
President Lee said, “Despite political and economic uncertainties at home and abroad last year, we made various efforts for growth,” and “This year, we will focus on the essence of the business to make 2025 a springboard for a new strategic leap.”
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