Shin Yoo-yeol (39), head of the future growth office at LOTTE Corporation and head of global strategy at LOTTE Biologics (executive vice president), the eldest son of Shin Dong-bin, chairman of the LOTTE Group, was designated as CEO of LOTTE Biologics on the 26th.
Executive Vice President Shin will serve as co-CEO with Park James, CEO of LOTTE Biologics, jointly leading the bio business, one of the group's new ventures.
He will also take on a key role in the strategic control organization to be newly established at LOTTE Corporation, leading business innovation and a shift in the business portfolio across the group.
He was not promoted in this personnel reshuffle. Executive Vice President Shin had joined the presidents' group after three consecutive years of promotion—starting as senior managing director in 2022, becoming managing director in 2023, and executive vice president last year.
Born in 1986, Executive Vice President Shin completed an MBA at Columbia Business School in the United States, worked at Nomura Securities, and then joined the LOTTE Group to begin management training. In 2020, he joined the holding company in Japan and went through affiliates including LOTTE Chemical.
He served as CEO of investment affiliates including LOTTE Strategic Investment and LOTTE Financial, and since last year has led strategies for new businesses such as global business, bio, healthcare, mobility, and information technology (IT) at the newly established future growth office at LOTTE Corporation.
Since taking charge of the future growth office, Executive Vice President Shin has also been active in on-site management, visiting the world's largest electronics and IT trade show held in Las Vegas, and InterBattery, the largest battery exhibition in Korea.