Lotte Wellfood CEO Seo Jeong-ho said the company will pursue sustainable growth by strengthening its fundamental competitiveness across the business and expanding into global markets.
At a town hall meeting held last month, Seo urged employees to focus on two core strategies to achieve solid midterm and long-term growth. These strategies were improving the domestic business through stronger fundamental competitiveness and sustaining high growth in the company's global operations.
Lotte Wellfood is currently concentrating on strengthening its fundamental competitiveness. The company is focusing on maximizing operational efficiency across its value chain, including optimizing its production network and overhauling logistics and procurement processes. The company also plans to improve its responsiveness to demand through a data-driven management system.
The company is also moving to boost its global competitiveness. Its strategy calls for reinforcing its position in key existing strategic markets such as India and Kazakhstan while growing core brands like Pepero. Lotte Wellfood will also deepen cooperation between its Korean and Japanese food affiliates, centered on a recently launched joint venture in Singapore.
Meanwhile, Lotte Wellfood posted 2.18 trillion won ($1.63 billion) in consolidated revenue and 100.5 billion won in operating profit in the first half of this year.
siuu@heraldcorp.com
