Shin Dong-bin, chairman of LOTTE Group, has embarked on a business trip to India. India is considered the world's most populous country, with approximately 1.4 billion people. It is also an overseas market that must not be missed in the K-food business, including LOTTE Group's signature product, Pepero. Since this is Shin's first overseas visit this year, it is interpreted as a step to strengthen the local food business in India.
According to industry sources on the 3rd, Shin departed for India with senior executives, including Lee Young-ku, vice chairman of LOTTE Group's Food Headquarters and CEO of LOTTE Wellfood. This is his first visit to India in nine years since he visited New Delhi in 2016 during the occasion of the Korea-India Business Summit along with leaders of major conglomerates. A LOTTE Corporation official noted, "It is true that Shin is on a business trip to India."
Shin is reportedly expected to tour key confectionery production facilities operated by LOTTE Wellfood in India. The size of India's confectionery market is approximately 17 trillion won. Accordingly, it is a key market where LOTTE Wellfood anticipates sales growth this year. In 2004, LOTTE Wellfood acquired Indian confectionery company Paris (currently LOTTE India), and last year, it established a consolidated entity by merging LOTTE India with its subsidiary in the Indian institutional sector, Habmore.
LOTTE Wellfood has designated India as the first overseas production base for its Pepero brand, which is approaching 200 billion won in overseas market sales. The company has invested 2.1 billion rupees (approximately 33 billion won) in LOTTE India's Haryana plant to establish a Pepero production base, with operations aimed to commence in the second half of this year. LOTTE Wellfood plans to produce high-demand products such as the original Pepero and Crunky Pepero on a full scale at this site.
Industry observers view Shin's visit to India as an effort to seek new growth engines for the group overseas and to bolster corresponding local strategies. In fact, during the 'One LOTTE Food Strategy Meeting' held in September last year in Warsaw, Poland, Shin decided that the Korean and Japanese LOTTE affiliates would collaborate to develop a global mega brand with annual sales of 1 trillion won, selecting Pepero as the first strategic product.
Also, during the VCM (Value Creation Meeting) held on the 9th of last month for the first half of 2025, Shin emphasized the need to identify new business opportunities in overseas markets. At that time, he stated, "Considering the outlook for the domestic economy and population, expanding into overseas markets is the most important goal for the group's growth," urging to "carefully analyze overseas markets and establish differentiated business strategies to enhance competitiveness in the global market."