1st Anniversary of Late Chairman Shin Kyuk-ho... "Today, I Miss My Father Even More"

[Asia Economy Reporter Lim Hye-seon] "I have realized once again how great the void left by my father is. I will deeply engrave his teachings."

Shin Dong-bin, Chairman of Lotte, said this on the 18th, marking the first anniversary of his father and Lotte founder, the late Honorary Chairman Shin Kyuk-ho. Chairman Shin said, "Today is a day when I miss my father even more," adding, "It was an honor to live in the same era as my father." He continued, "My father had a deep love for his homeland and wanted to contribute to society and the nation through relentless challenges and extraordinary passion," and pledged, "Recalling his words that the most important thing when facing difficulties is a firm will to overcome them, I will overcome any tough moment."

To commemorate the first anniversary of Honorary Chairman Shin, Lotte will open an online memorial hall from the 18th to the 22nd instead of holding a memorial service, following social distancing guidelines. The online memorial hall features condolence messages, memorial videos, the life story, and sayings of Honorary Chairman Shin. The 10-minute memorial video highlights his achievements, including crossing to Japan empty-handed to build a business and investing in his homeland, contributing to the development of the food, tourism, distribution, and heavy chemical industries.

The memorial video also reveals for the first time the interior of Honorary Chairman Shin’s hometown house in Ulju-gun. Employees who saw clothes, shoes, furniture, and accessories that appeared to have been used for decades said, "We could feel Honorary Chairman Shin’s frugal and humble nature."

Shin Young-ja, the eldest daughter of Honorary Chairman Shin and former director of the Lotte Welfare Foundation, said, "Even while struggling to do business in a foreign country during my childhood, he always thought of and longed for his homeland and hometown," adding, "I believe that sentiment was the driving force behind building the Lotte Group and contributing to the Korean economy."

Condolence messages from various sectors continued. Former UN Secretary-General Ban Ki-moon said, "The darker the times, the more he shone with all his might, and at moments when dreams could have collapsed, he realized even greater dreams," adding, "His spirit of challenge and life serve as the greatest lesson and model for us preparing for the post-COVID era." Former Prime Minister Lee Hong-gu remembered Honorary Chairman Shin, saying, "I clearly engrave in my mind and heart the strong beliefs, spirit of challenge, and attitude as a businessman that you showed."

Indoor ornaments of the late Honorary Chairman's hometown house in Ulju-gun.

A memorial performance by pianist Kang Sang-soo, a Berklee College of Music graduate, was also released. Kang, who is visually impaired, passed the Berklee entrance exam in 2013 but struggled to afford tuition. During this difficult time, the Lotte Scholarship Foundation, funded by Honorary Chairman Shin’s private donation, supported his three years of study abroad tuition and living expenses. Kang expressed his gratitude for Honorary Chairman Shin’s help by arranging and performing Louis Armstrong’s ‘What a Wonderful World’ to commemorate the late chairman’s wish for a prosperous world.

Honorary Chairman Shin established the Lotte Scholarship Foundation in 1983 with a private donation. The foundation has focused on supporting students majoring in basic sciences and has provided scholarships to over 50,000 recipients to date. At the time, Honorary Chairman Shin said, "Sometimes, scholarship recipients send thank-you letters to the foundation, and reading those letters brought me considerable joy," adding, "When I learned that a student from a very poor family later became an outstanding talent, I felt a sense of fulfillment as a businessman." Additionally, in 1994, Honorary Chairman Shin established the Lotte Welfare Foundation to help foreign workers. Chairman Shin Dong-bin is also continuing his father’s legacy by exploring and striving for various ways Lotte can contribute to society. In September 2015, Chairman Shin Dong-bin established the Lotte Cultural Foundation, expanding social contributions beyond scholarships and welfare to actively support culture and the arts.

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