Chairman Shin Dong-bin Resumes Work: "A Historic Turning Point... Must Respond Quickly"

First Executive Meeting Held After Return to Office
Directive to Discover Growth Businesses for Post-COVID Preparation
Positive Evaluation of Remote Work and Video Conferencing Experience
Call for Change in Work Methods Across All Employees

[Asia Economy Reporter Lim Hye-sun] "We are at a historic turning point."

Shin Dong-bin, Chairman of Lotte Group, who resumed work after a two-month business trip to Japan, emphasized this three times during an executive meeting held on the 19th. He judged that even after the end of the novel coronavirus infection (COVID-19), new market rules and game rules will be established, urging all group companies to adopt a new mindset and move quickly to respond to the post-COVID era. This face-to-face meeting was held for the first time in about two months. Attendees included the CEO of Lotte Holdings, each department head, and the heads of four BUs.

According to Lotte Holdings on the 20th, Chairman Shin instructed the discovery of businesses with high growth potential and strategic investments in line with social, economic, and cultural changes caused by COVID-19. Chairman Shin pointed out, "We must not have a complacent mindset of 'let's just get through this crisis.'" He added, "In the new era, the competitive advantages we have built up may lose their power." He continued, "We must closely analyze the expected trend changes and the growth potential of our businesses to discover new growth engines and focus investments on areas with future growth potential."

Chairman Shin, who left for Japan on March 7, returned on the 2nd of this month, underwent a two-week self-quarantine period at home, and has been working at the Jamsil Lotte World Tower office since the 18th. He has been managing business issues through video conferences from Japan and his home in Korea. While staying in Japan, he met with local economic figures and closely monitored the global economic situation, reportedly giving much thought to the group’s strategic direction in the post-COVID era.

Chairman Shin also positively evaluated his experience of working from home and video conferencing in Japan and Korea over the past two months. In Japan, he alternated between office and remote work, and after returning to Korea, he worked from home for two weeks. He said, "I was impressed that non-face-to-face meetings and reports were more convenient and efficient than expected," adding, "In cases where direct visits to business sites are difficult, video conferences have the advantage of allowing us to hear from the field more frequently." He emphasized to the management, "As the work environment changes, the way we work must naturally change as well," and stressed the need to consider how to work more efficiently in these work environments by industry and task.

Chairman Shin also stated that he himself is considering the regular implementation of remote work and video conferencing in the future. This is interpreted as an effort to more actively manage business sites that he has relatively less frequently visited due to physical distance through changes in the way of working.

Chairman Shin said, "Now is the time when the will to overcome the crisis, the spirit of challenge, and the winning spirit are desperately needed by all employees," adding, "Through agile responses to change, breaking fixed ideas, and quick execution, all employees must thoroughly prepare for future growth." He also expressed gratitude to employees, saying, "Just as the smooth response to COVID-19 in Korea is proceeding through the small efforts of each citizen, Lotte is operating well without serious internal spread cases thanks to the employees’ adherence to government and group guidelines and their efforts."

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