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Woowa Brothers Corp., a designs software applications and mobile apps for food delivery in South Korea announced this week that it has appointed a new chief executive officer to lead the company.
Woowa Brothers promoted Lee Kuk Hwan who was the company’s chief operating officer, to the CEO role. The company that operates the Baedal Minjok delivery service said that although it has already made an announcement, Lee will be formally appointed in March 2023 after the company’s upcoming shareholders’ meeting and board of directors' resolution.
According to The Korea Times, Lee graduated from Yonsei University, where he earned his college degree and obtained his MBA at Stanford University. It was in 2017 when he first joined Woowa Brothers after working for SK Telecom, Fila Korea, and McKinsey global consulting company.
When he was first hired at the company, the new CEO served as head of the Baemin Riders Business unit. He also held positions as the head of Woowa’s delivery division and led the business division at Baemin.
While serving in these posts, he has played a key role in introducing and bolstering the company’s food delivery business and quick commerce services presence in the market. He helped B Mart and Baemin Store gain more customers, and their market share has improved in the process.
“The new CEO is an expert with insight into overall business management, including business strategy establishment, operation, and risk management,” an official at Woowa Brothers official said in a press release. “As each business Lee was in charge has been proven with clear performance, we will exert our capabilities to make Baedal Minjok a platform that provides the best service in this market with high volatility.”
Meanwhile, it was said that the outgoing CEO, Kim Bom Jun, was offered to continue with a new term, but he politely declined after being in the role for three years. Prior to becoming the company’s chief, Kim was the chief technology officer.
As a CEO, he is being credited for solidifying Woowa Brothers as the industry's number one despite the stiff competition in the market. Finally, once he steps down, Kim is planning to become an advisor at the company to improve its product capabilities and leadership.
