"Lotte Home Shopping Launches Commercialization of 'MZ Generation Employee Idea Contest'"

Lotte Homeshopping has launched innovative management initiatives by conducting an internal contest called the "Game Changer Audition," where MZ generation employees propose ideas, and reflecting them in new business strategies. (Second from the left) Lee Wanshin, CEO of Lotte Homeshopping, is taking a commemorative photo with the award-winning employees. (Photo by Lotte Homeshopping)

On the 20th, Award Ceremony for the Winning Team of the Idea Contest 'Game Changer Audition'

[Asia Economy Reporter Kim Yuri] Lotte Homeshopping announced on the 22nd that it has launched innovative management by holding an internal idea contest called 'Game Changer Audition,' where MZ generation employees propose ideas, and reflecting them in new business strategies.

In line with the generational shift where the MZ generation becomes the main force in economic activities, the audition-style contest was planned to discover innovative ideas that can change market trends rather than simply improving processes. Junior employees from entry-level to assistant manager (section chief) level were invited to propose ideas on topics such as ▲new business ▲sales activation ▲work improvement. About 40 teams applied in April, and after preliminary screening, idea refinement, and proposal presentations, a total of 5 teams were finally selected. To ensure objective evaluation, the judging was conducted mainly through multi-faceted assessments by experts from Lotte Group’s corporate venture capital (CVC), Lotte Ventures, as well as company executives and employees.

On the 20th, the award ceremony for the 'Game Changer Audition' was held at the headquarters in Yangpyeong-dong, Yeongdeungpo-gu, Seoul, attended by Lotte Homeshopping CEO Lee Wanshin and other executives and employees. Among the 5 teams that reached the final round and presented their proposals, the winning team (Choi Miryeong, Kim Beomgyu) proposed 'Developing MZ Generation Targeted Self-Planned Products' by emphasizing differentiation from existing products. They directly planned and produced a superfood using plant-based protein within two months, targeting the vegan trend, and refined the product development process tailored to the value-conscious MZ generation, earning high scores. The winning team received prize money. If the idea leads to commercialization, a portion of the profit increase will be provided.

Following this, the team proposing 'Eco-friendly Upcycling Planning,' considering ESG (Environmental, Social, and Governance) issues, won second place. Lotte Homeshopping plans to commercialize these ideas by forming specialized organizations or linking with related departments. The 'Game Changer Audition' is planned to be held regularly twice a year in the future.

Meanwhile, Lotte Homeshopping operates various programs to reflect the opinions of young employees across company management. They run an internal task force (TF) composed of junior employees and strive to commercialize creative ideas, launching the online specialty store for single-person households 'LETIT' and the first health food private brand 'Daily Balance.' They also established the 'Junior Board,' an organizational culture TF that shares field opinions from the MZ generation’s perspective with the CEO, and operate the 'Talent Academy,' which selects core personnel for each major business and nurtures them into top-level experts.

Jeon Hojin, Head of Planning at Lotte Homeshopping, said, "The MZ generation accounts for 34% of the total population and about 60% of employees in major domestic companies, emerging as a social and economic mainstay. We planned this contest based on the judgment that establishing an organizational culture and management strategy suitable for them will be the foundation for company growth. We will continue to actively incorporate the creative ideas of the MZ generation into business strategies and strive to sustain innovation activities."

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