Lotte ON Launches Nayoungho Era... Strengthening Organization with Promotion to Vice President Level

[Asia Economy Reporter Jo In-kyung] Lotte Group has elevated the head of its integrated online platform 'Lotte ON' from executive director level to vice president level.

On the 12th, Lotte Group announced the official appointment of Na Young-ho, former head of strategic planning at eBay Korea, as CEO of Lotte ON (Vice President, photo). Among the four business divisions of Lotte Shopping (department store, mart, super, e-commerce), only the department store division head was at the vice president level while the others were at the executive director level. The recent promotion of CEO Na to vice president level highlights the group's commitment to strengthening the Lotte ON organization.

CEO Na joined Daehong Planning, Lotte Group's advertising affiliate, in 1996 and was a founding member of Lotte.com. He later worked at Hyundai Motor Group and LG Telecom before joining eBay Korea in 2007, where he served as head of new business at Gmarket, head of cross-border e-commerce, and head of strategic planning.

During his tenure at eBay Korea, CEO Na was credited with successfully leading the 'Lock In' strategy to secure and retain loyal customers. The 'Smile Series'?including 'Smile Club,' the first paid membership service in the e-commerce industry; 'Smile Pay,' a simple payment system; and 'Smile Card,' an exclusive credit card launched with Hyundai Card?were all developed under his leadership. As of the end of last year, Smile Pay had accumulated 15 million users since its launch in 2014, and Smile Club, the paid membership, had 3 million members, making it eBay Korea's greatest competitive advantage. Another achievement was unifying eBay Korea's three e-commerce businesses?Auction, Gmarket, and G9?under Smile Club, integrating distinct e-commerce services into one platform.

Building on this experience, CEO Na is expected to lead the advancement of Lotte ON's open market business and the enhancement of simple payment systems. Lotte Shopping recently acquired the mobile gift certificate business and reorganized its systems by introducing its own escrow payment system. Additionally, integrating the recently acquired secondhand trading platform 'Junggonara' and the acquisition of eBay Korea remain tasks for CEO Na.

A Lotte official said, "We are focusing on increasing the proportion of e-commerce business company-wide and enhancing competitiveness through organic integration of online and offline channels. We expect that the appointment of the new CEO will revitalize the organization and put Lotte ON back on a normal growth trajectory."

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