Lotte Chilsung Beverage Spins Off In-House Venture 'Workers High' as Independent Corporation

[Asia Economy Reporter Seungjin Lee] Lotte Chilsung Beverage announced on the 28th that it will spin off its in-house venture "Workers High," which was produced through the in-house venture nurturing program "Chilsung Camp," into an independent corporation.

"Workers High" is an in-house venture team selected as the third batch of Lotte Chilsung Beverage's in-house ventures last June with the idea of the "Office Mini Bar" business and has been nurtured for one year.

"Office Mini Bar" is a brand name combining "office," meaning workplace, and "mini bar," a beverage service in hotel rooms, selling food and consumer goods through customized stands suitable for office environments.

Additionally, based on IoT (Internet of Things), it features customized services that enhance accessibility and convenience for office workers, various purchase benefits such as coupons and stamp accumulation, and subscription services, enabling customer management.

"Workers High" received a 500 million KRW equity investment from Lotte Chilsung Beverage for the spin-off of the in-house venture, and plans to participate in the accelerating program (L-Camp) of "Lotte Ventures," Lotte Group's venture capital.

Kim Choonghee, CEO of Workers High, said, "We will strive to become a platform business that delivers differentiated new customer value by providing customized services at the closest point to consumers beyond the existing distribution structure."

A Lotte Chilsung Beverage official said, "The in-house venture system has the advantage of fostering a creative and challenging organizational culture and efficiently discovering new growth engines in a rapidly changing market."

Meanwhile, Lotte Chilsung Beverage has been operating the in-house venture system annually since 2018 to realize employees' creative ideas, and this year, it plans to select two teams and support commercialization for one year starting in June. The final selected teams will focus solely on their projects during this period and are guaranteed operating expenses, independent office space, and flexible working hours to ensure no difficulties in promoting commercialization.

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