The future growth office led by Vice President Shin Yoo-yeol of Lotte Corporation has bolstered its executive ranks and moved to reorganize. The office, which oversees groupwide new-business development and mid- to long-term growth strategy, was recently reshaped from a two-executive to a three-executive system and is accelerating its expanded role.
According to the related industry on the 27th, Lotte Group's future growth office is operating with three executives: Executive Director Lim Jong-uk and Associate Executive Director Kim Su-nyeon, joined by Executive Director Park Sang-ho, who came on board through the regular year-end executive appointments last year. Park was promoted from associate executive director and joined the future growth office to oversee global strategy.
The future growth office is composed of two pillars: new growth and the global team. Previously, Executive Director Lim Jong-uk handled new growth and Associate Executive Director Kim Su-nyeon handled global strategy, but after Park joined, Lim and Kim jointly took charge of the new growth institutional sector and Park took the helm of the global team.
Born in 1974, Executive Director Park joined Lotte Department Store in November 2000. Park then worked in the group policy headquarters' co-prosperity promotion office and spent about eight years in Chairman Shin Dong-bin's secretariat. After moving to Lotte Duty Free in 2020, Park held key posts including product strategy, head of the World Tower store, and head of the management support institutional sector.
Within the group, many say that although Park most recently worked at Lotte Duty Free, the identity as a secretariat alumnus from the department store arm is strong. As Head of Team for the global unit, Park is expected to lead group-level efforts to accelerate the reorganization of overseas businesses and the push for new businesses.
Since its launch in 2023, the future growth office has continuously reorganized. Early in 2024, it set up the subunits of new growth and the global team, appointing Executive Director Seo Seung-uk and Associate Executive Director Kim Su-nyeon as inaugural Head of Team, respectively. Later that same year, when Seo moved to Lotte Wellfood, Executive Director Lim Jong-uk joined and took over the new growth institutional sector.
The future growth office is estimated to have about 13 to 14 people, including three executives. The exact organization and headcount have not been disclosed. Because it is a body directly tied to Vice President Shin Yoo-yeol's management succession, specific roles and operating methods are shared only in a limited way externally, and it is known to be built around a selected group of personnel.
Meanwhile, starting this year, Lotte Corporation has also created and is operating a strategy control organization separate from the future growth office. Vice President Shin has also taken on a key role in the strategy control organization and is expected to set the groupwide business direction and drive business innovation and portfolio shifts.