Lotte Group Gathers Executives for Value Creation Meeting, Focuses on AI and Internal Stability

Lotte Group convened its Value Creation Meeting (VCM) on June 15 at the Lotte World Tower in Seoul, bringing together approximately 80 key executives, including Chairman Shin Dong-bin. This biannual meeting serves as a crucial decision-making forum to refine the group's direction and sustainable growth strategies.

The agenda focused on a detailed analysis of the first half's business performance and the development of concrete action plans to boost remaining targets. Amidst fluctuating global financial conditions and macroeconomic instability, the emphasis was placed on internal stability and survival strategies rather than solely on external growth.

Marking a significant first for the conglomerate, Lotte invited renowned market analyst and futurist Doug Stephens as its keynote speaker. Stephens, known for advising major global corporations, shared insights into the transformative impact of artificial intelligence and the structural shifts occurring in the global retail landscape.

Following Stephens' address, the group's co-CEOs, Noh Jun-hyung and Ko Jeong-wook, presented their overall business strategies and financial soundness plans. Presidents from Lotte's core sectors, food and beverage, distribution, petrochemicals, and hotels, also reported on detailed execution guidelines aimed at restoring fundamental value and enhancing core competitiveness.

Adding a practical dimension, Lotte showcased over ten AI-powered programs designed for immediate application in various business units. These demonstrations included virtual assistants, real-time market value tracking, consumption trend prediction, and global economic forecasting. Chairman Shin Dong-bin concluded the meeting by outlining management directives for the remainder of the year and emphasizing the leadership qualities required during this period of transformation.