Lee Young-jun, head of Lotte's chemical group, said in a New Year's address on the 5th, "Even amid a difficult business environment, let's push ahead unwaveringly with our business structure shift and competitiveness innovation to make this year a major turning point for future growth."
Lee said the company will continue conservative, cash flow-centered management while simultaneously reshaping global operations and adjusting domestic production facilities. He emphasized concentrating resources on businesses with strong competitiveness and boldly rationalizing businesses with low revenue and differentiation.
For future growth pillars, he pointed to functional materials linked to semiconductors, artificial intelligence (AI), mobility, and low-carbon energy. The plan is to shift the portfolio toward functional compounds, semiconductor process materials, and eco-friendly energy materials to build a mid- to long-term growth base.
To strengthen research and development competitiveness, he said the company will overhaul its mid- to long-term roadmap and expand collaboration with universities, corporations, and global research institutes. He emphasized making safety and organizational culture the foundation of management and increasing communication to bolster a sense of stability in the organization amid uncertainty.
Lee stressed human and physical investments for safety, saying, "The more uncertain the market conditions, the more important healthy organizational culture that encourages one another and safe business sites are above all."