"Remembering Father, Overcoming Adversity"... 'Lotte Legend' Late Shin Kyuk-ho, Laid to Rest in Ulsan

Funeral Ceremony for Honorary Chairman Shin Kyuk-ho on the 22nd
About 1,400 Family Members and Employees Attend
Silence in the Hall at Words of Lotte Chairman Shin Dong-bin
Former Prime Minister Lee Hong-gu: "Pioneer of Korean Economy"
Hearse Heads from Lotte World Tower to Burial Site in Ulsan After Ceremony

Shin Gyeok-ho Honorary Chairman's wife Hatsuko Shigemitsu, Shin Dong-ju SDJ Chairman, and Shin Dong-bin Lotte Group Chairman are paying tribute at the funeral ceremony of the late Shin Gyeok-ho, Honorary Chairman of Lotte Group, held on the morning of the 22nd at the Lotte Concert Hall in Lotte World Mall, Songpa-gu, Seoul. Photo by Kim Hyun-min kimhyun81@

[Asia Economy reporters Minyoung Cha and Seungjin Lee] "I will find my way forward by recalling my father's passion amid future hardships and adversity." The atmosphere in the hall grew solemn at the final words of Shin Dong-bin, Chairman of Lotte Group, who had greeted mourners with a somber face for three consecutive days following the passing of Honorary Chairman Shin on the 19th.

The funeral ceremony for the late Shin Kyuk-ho, founder and honorary chairman of Lotte Group, who was a father of two sons and two daughters and a business leader who built Lotte Group across Korea and Japan throughout his life, was held on the morning of the 22nd at the Lotte Concert Hall in Lotte World Mall, Jamsil, Seoul. The ceremony, which began at 7 a.m., lasted about 45 minutes with approximately 1,400 attendees including family members, Lotte Group executives, and external guests.

Shin Jung-yeol, son of Shin Dong-ju, eldest son of the late honorary chairman and chairman of SDJ Corporation (former vice chairman of Japan’s Lotte Holdings), and Shin Yoo-yeol, son of Shin Dong-bin, the second son and current chairman, entered the hall holding the portrait and memorial tablet respectively. The late chairman’s wife, Hatsuko Shigemitsu, former vice chairman Shin, Chairman Shin, and eldest daughter Shin Young-ja, chairwoman of the Lotte Welfare Foundation, followed into the funeral hall. After the hall was arranged, former Prime Minister Lee Hong-gu, appointed as honorary funeral chairman, delivered the eulogy.

The funeral ceremony of the late Shin Kyuk-ho, Honorary Chairman of Lotte Group, was held on the morning of the 22nd at the Lotte Concert Hall in Lotte World Mall, Songpa-gu, Seoul. Shin Jung-yeol, son of Shin Dong-joo, former Vice Chairman of Lotte Holdings, and Shin Yoo-yeol, son of Shin Dong-bin, Chairman of Lotte Group, are carrying the portrait and memorial tablet.

Former Prime Minister Lee recalled, "The businesses you established have become pillars supporting South Korea’s economy today," adding, "In that sense, you were a great pioneer of our era and a trailblazer who foresaw the future of the national economy and cultivated its foundation." Ban Ki-moon, former UN Secretary-General and also appointed honorary funeral chairman, was unable to attend due to a business trip, so the master of ceremonies read his eulogy. Ban expressed his condolences, saying, "The founder answered the call of his homeland during a time when our country was struggling to rebuild from the ruins of war and willingly took on the task of economic revival and industrial development," and "He was a towering figure who led South Korea’s economic development and a bright star that illuminated the path of economic growth during dark times in our lives."

After the eulogies, a memorial video featuring the late honorary chairman’s life was screened. Shin Kyuk-ho, born in 1921, was the last first-generation founder among Korean entrepreneurs, a first-generation founder and business leader who traveled monthly between Korea and Japan to build his business. After majoring in chemistry at Waseda University, he established Lotte Co., Ltd. in Japan in 1948 with ten employees. He expanded into trading, real estate, merchandise, and distribution, growing Lotte into one of Japan’s top ten conglomerates. Following the normalization of diplomatic relations between Korea and Japan in 1965, he returned to his homeland and developed Lotte Group into the fifth-largest business group in Korea. Scenes depicting the "bare-handed creation of the Korea-Japan Lotte legend" and the "invincible distribution giant" passed by.

On the 22nd, the funeral procession of the late Shin Kyuk-ho, Honorary Chairman of Lotte Group, circled around the Jamsil Lotte World Tower area in Songpa-gu, Seoul. Photo by Hyunmin Kim kimhyun81@

Former Vice Chairman Shin Dong-ju delivered a greeting on behalf of the family to the guests. He said, "My father devoted his life to keeping promises with Lotte Group employees and customers, who were like his own reflection," adding, "Our family will live on cherishing the footsteps of our late father deeply in our hearts." Chairman Shin spoke on behalf of Lotte Group, saying, "Even when my father achieved success after hardships and adversity abroad (in Japan), he always thought first of his homeland," and "Through my father’s lifelong practice of the belief that companies should contribute to the development of their country, I learned the sense of mission and responsibility of a businessperson." He also said, "He dedicated everything to Lotte, and I will remember his sweat and passion." After the floral tribute, Chairman Shin shook hands individually with the guests as they returned to their seats.

Immediately after the funeral, the hearse carrying the late honorary chairman’s body circled the Lotte World Tower, a lifelong wish of the deceased, before departing for the family burial site in Seonyeong, Ulju-gun, Ulsan.

Thousands of mourners crowded the funeral held over three days starting from the 19th. They bid farewell to the late honorary chairman with words such as "giant," "Superman," and "legend." Many people from various fields including politics, economy, and sports, as well as second to fourth-generation owners such as Samsung Electronics Vice Chairman Lee Jae-yong, LG Group Chairman Koo Kwang-mo, and CJ Group Chairman Lee Jae-hyun, joined the final farewell. The funeral also became an opportunity for the two brothers, former Vice Chairman Shin and Chairman Shin, who had not faced each other for 15 months following a management dispute in 2015, to reunite. Although they remained physically apart throughout the funeral, they took the elevator down together and consulted on the funeral schedule, proving that blood is thicker than water.

This content was produced with the assistance of AI translation services.