Shin Dong-bin, chairman of Lotte, held a memorial service on the morning of the 17th to commemorate the 5th anniversary of the passing of founder Shin Kyuk-ho, laying flowers at the bust of the late founder located on the first floor of Lotte World Tower in Songpa-gu, Seoul.
Lee Dong-woo, vice chairman and CEO of Lotte Holdings, along with senior executives, including heads of various business divisions and the representative of Lotte Construction, also participated in the event, reflecting on the founder's spirit of challenge and management philosophy.
Lotte is currently pushing forward with intensive reform efforts to overcome the difficulties facing the group and create a turning point for significant innovation.
During the 'Value Creation Meeting (VCM)' held on the 9th for the first half of 2025, Chairman Shin Dong-bin instructed the executives to redefine business models and adjust operations with a fresh perspective, even for legacy businesses that once led the group's growth. As a result, the spirit of innovation and challenge of founder Shin Kyuk-ho is expected to be further emphasized this year.
After the executives' memorial service, a flower-laying area will be open for employees to pay their respects voluntarily. Lotte Holdings employees also delivered flowers to the burial site of founder Shin Kyuk-ho in Ulsan to express their condolences.
Chairman Shin is also known to have paid his respects not only at the memorial service in January but also during holidays and on the birthday of the late founder. He visited the burial site in Ulsan even during the Chuseok holiday last September.