Lotte Chairman Shin Dong-bin: Tradition Must Be a Springboard for Innovation

Lotte Group Chairman Shin Dong-bin is pushing his company leaders to innovate and expand, stating that tradition should serve as a launchpad for new ideas rather than a constraint. During the group's 2026 Lotte Value Creation Meeting, attended by about 80 executives, Shin stressed the need to fundamentally boost the competitiveness of existing core businesses and identify new growth avenues.

While the group's major affiliates saw a rebound in performance in the first quarter, Shin cautioned that this was largely due to temporary cost-cutting measures. He urged CEOs to focus on developing businesses that will drive the group's long-term growth, reminding them that the external capital market remains critical of their performance.

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Tradition must be a starting point for new innovation, not a ceiling that confines us.

The meeting, held at Lotte World Tower in Seoul, is where Lotte Group discusses its management direction and mid- to long-term strategies. Shin's remarks underscore a drive for sustained growth beyond short-term financial gains, emphasizing a forward-looking approach to business development.

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Although the group's overall performance has improved, the external capital market's view remains cold.