Lotte said on the 4th that Lotte Card, which was sanctioned by financial authorities with a partial suspension of business, sent a letter of apology signed by the CEO.
Lotte received a letter of apology signed by the CEO from Lotte Card on the 3rd. The letter follows the Financial Services Commission's decision to finalize a partial suspension of business over a customer information leak that occurred in September last year.
Earlier, on the 31st of last month, Lotte Card received a 1.5-month partial suspension of business from the Financial Services Commission. Although the sanction period was reduced from the 4.5 months initially decided by the Financial Supervisory Service, new card issuance will be halted, making business disruptions inevitable.
In the letter, Lotte Card said, "We apologize for the inconvenience caused to customers of Lotte Corporation and each affiliate due to this measure," and added, "Even during the partial suspension period, we will focus on responses so that customers using Lotte affiliates do not experience inconvenience."
Lotte sold its equity in Lotte Card to MBK Partners in 2019, separating it from the group. Lotte Card is currently managed by MBK Partners and operates under a management structure separate from Lotte Group.
A Lotte official said, "Because Lotte Card uses the 'Lotte' brand, many customers still mistake it for a Lotte affiliate," and added, "We plan to work with Lotte Card so customers using affiliate stores can receive services without inconvenience."
Lotte also protested to Lotte Card at the time of last year's cyber breach, concerned about damage to brand value and a decline in customer trust, and requested measures to minimize customer harm. Lotte Card then delivered a letter of apology and promised customer protection measures.