'Lotte Holdings New Co-CEO' President Dongwoo Lee... Department Store Expert Born in 1960

'Lotte Man' with 34 Years at Lotte Group
In Charge of Product Sourcing and Sales

President Lee Dong-woo, appointed as the new co-CEO at the Lotte Holdings board meeting on the 13th

[Asia Economy Reporter Minyoung Cha] Lotte Holdings has transitioned to a three-person CEO system on the 13th, consisting of Chairman Shin Dong-bin, Vice Chairman Song Yong-duk, and former Lotte Hi-Mart CEO President Lee Dong-woo (pictured), drawing attention to the newly appointed CEO President Lee Dong-woo.

Born in 1960, President Lee Dong-woo is 61 years old this year and is a 'Lotte man' who has been with the Lotte Group for 34 years. After majoring in Business Administration at Konkuk University, he joined the Lotte Group in 1986. He grew into a 'department store expert' by handling product sourcing, sales, and merchandise planning (MD) at Lotte Department Store. In 2012, he served as Vice President and CEO of Lotte World. Subsequently, he became Vice President and CEO of Lotte Hi-Mart in 2015 and was promoted to President in 2017, leading Lotte Hi-Mart for 5 years and 8 months until this year. During his tenure as CEO, Lotte Hi-Mart's sales surpassed the 4 trillion won mark for the first time in 2017.

President Lee Dong-woo is also known to have the strong trust of Lotte Group Chairman Shin Dong-bin. Earlier this year, Chairman Shin visited the Jamsil Lotte Hi-Mart Megastore along with former Lotte Holdings Vice Chairman Hwang Gak-gyu and Distribution BU Head Kang Hee-tae to show support. President Lee personally guided the tour as CEO of Lotte Hi-Mart. Chairman Shin, who carefully inspected various areas, briefly commented that it was "interesting."

President Lee Dong-woo is also known to have formed a connection with former Lotte Group Vice Chairman Lee In-won, whom Chairman Shin Dong-bin held in special regard, during their time working at the department store. Vice Chairman Lee elevated Lotte Shopping to the top position in the distribution industry and held three key positions in department store management: administration, merchandise purchasing, and sales. In 2016, amid a prosecution investigation into allegations of slush fund creation within Lotte Group, he took his own life. Chairman Shin showed deep attachment by visiting the funeral home for two consecutive days.

A Lotte Group official stated, "President Lee Dong-woo has led synergy creation between Lotte Hi-Mart and Lotte affiliates as well as stable growth," adding, "Based on his diverse experience, he is expected to lead Lotte's innovation and crisis management."

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