Lotte Group Holds Second Half Virtual Executive Meeting

Sharing Second Half Business Plans and Discussing Innovation Strategies for Future Growth

[Asia Economy Reporter Lim Hye-sun] Lotte Group will hold its second half executive meeting on the 14th.

Lotte announced that from 9 a.m. on that day, the second half VCM (Value Creation Meeting, formerly the executive meeting) will be held for three hours with about 90 participants including Chairman Shin Dong-bin, holding company and affiliate representatives.

This second half VCM will be conducted in the form of a webinar to comply with social distancing guidelines due to the COVID-19 pandemic and to realize an untact (non-face-to-face) work culture. Participants will gather in small groups in eight meeting rooms set up at three bases: Jamsil (5 rooms), Sogong (2 rooms), and Yangpyeong (1 room) in Seoul to participate in the VCM. Each base will hold small group meetings in a video conference format.

The duration and time of the meeting will also be shortened. Lotte has traditionally operated the second half VCM over about 4 to 5 days, where affiliates gather by business division to discuss mid- to long-term growth strategies and synergy creation plans, but this year it will be held only on the 14th. This is to ensure safety measures against COVID-19 and to focus on related future responses.

At this second half VCM, Lotte plans to share the first half performance and second half management plans for this year, and discuss the group’s innovation strategies and execution plans to achieve continuous future growth despite the difficult situation caused by COVID-19 under the theme of ‘Innovation required in the New Normal era.’

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