Chairman Shin Dong-bin of Lotte Group convened the Value Creation Meeting for the second half of 2025, in which he demanded the recovery of the competitive edge of its mainstay businesses to overcome management conditions.
Chmn. Shin stressed the establishment of strategies based on future expectations and securing capabilities to execute them swiftly.
Chmn. Shin made the remarks while presiding over the VCM for the second half of this year at the Osan Campus of Lotte Manpower Development Institute for two days from July 16.
The meeting was progressing in a heavy and serious atmosphere throughout.
Chmn. Shin emphasized the recovery of the competitive edge of the group’s mainstay businesses as a precondition to improving its major management indices.
This came after a cool-headed review of the group’s business performance for the first half of the year. He called for all CEOs to carry out their work with a heavy sense of responsibility.
Chmn. Shin stressed the significance of PEST analysis in business management. PEST refers to an analysis tool based on Political, Economic, Social and Technological factors for the outside environment of companies.
It is used to evaluate the impact macroeconomic environment factors will have on business outcomes.
“A fatal mistake in business management is that even though CEOs know problems, they ignore them or do not recognize them, and they will have to predict management environment condition changes in the next five to ten years and plan tasks now to three years to come,” Chmn. Shin said. He also called for the participants to prepare for manpower and technologies to execute the strategies.
To tide over uncertainty in the business environment and restore the group’s core competitiveness, Chmn. Shin issued management tasks for the second half of the year – raising brand values, accelerating strategic initiatives of each business unit and improving productivity.
“Each brand is a foundation of our businesses’ competitiveness and a valuable asset accumulated for a long period of time,” Chmn. Shin said.
Chmn. Shin demanded each business unit carry out strategies now under way in a fast fashion. He called for the chemical business to improve fundamentals swiftly, and ordered the food business unit to ramp up its core products.
Chmn. Shin demanded that the distribution business unit ponder ways to meet a variety of customers’ needs.
He asked for efforts to raise productivity. He also wants the conclusion of a personnel management regime based on a merit system.
Chmn. Shin called for a challenging corporate culture and making the most of the use of AI to raise work efficiency.
He demanded the management of changes in advance, saying, “Endless changing of management conditions bring about not only risks, but also opportunities for us.” Chmn. Shin called for pursing endless innovation, saying, “Not trying is tantamount to failure.”
He stressed the recovery of the group’s core competitiveness, saying, “All of you are advised to spearhead along with me for the future of our group.”
Lotte Group convenes the VCM twice annually with executives, including Lotte Group Chmn. Shin and CEOs of Lotte Corp. and the group’s subsidiaries to discuss the group’s mid- and long-term management tasks and strategies.
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