Honorary Chairman Shin Kyuk-ho of Lotte 2nd Anniversary ... Quiet Memorial with Floral Tribute to Bust

Memorial Space Established on 1st Floor of Jamsil Lotte World Tower

Lotte Group founder, the late Honorary Chairman Shin Kyuk-ho, is being commemorated on the 2nd anniversary of his passing, and on the 18th, Lotte Chairman Shin Dong-bin is laying a wreath.

On the 2nd anniversary of the passing of the late Shin Kyuk-ho, Honorary Chairman of Lotte Group, a memorial event was held on the 1st floor of Lotte World Tower in Jamsil, Seoul to honor Vice Chairman Shin.

On the 18th, Lotte Group announced that Chairman Shin Dong-bin and Lotte Holdings Vice Chairmen Song Yong-duk and Lee Dong-woo attended the memorial ceremony, offering flowers and observing a moment of silence in front of the founder’s bust. The bust was installed last year near the passage connecting Lotte World Tower and Avenuel to commemorate the 100th anniversary of the honorary chairman’s birth.

A Lotte official stated, "Chairman Shin quietly visited the honorary chairman’s ancestral grave in Ulju-gun, Ulsan last weekend," adding, "Considering the COVID-19 situation, no separate events were held, and employees are voluntarily paying tribute through flower offerings and other means."

Previously, on the 1st anniversary of the honorary chairman’s passing last year, Lotte only opened an online memorial hall in accordance with social distancing guidelines. Memorial speeches, tribute videos, his life story, and notable quotes were uploaded as videos, and employees left condolence comments. At that time, Chairman Shin recalled, "My father deeply loved his homeland and wanted to contribute to society and the nation through relentless challenges and extraordinary passion," adding, "He said that the most important thing we need first when facing difficulties is a strong will to overcome them."

In November last year, to commemorate the 100th anniversary of the honorary chairman’s birth, a bust was installed in Lotte World Tower and a memorial hall was created on the 5th floor. The hall introduces his life and achievements centered on the message of ‘Honesty, Service, and Passion,’ which the honorary chairman valued most during his lifetime. It reexamines his accomplishments, from crossing to Japan empty-handed to start a business, to establishing leading domestic companies in food, tourism, distribution, and heavy chemical industries, contributing to industrial development.

This year, despite internal and external uncertainties, Lotte aims not only to normalize its business but also to lay the foundation for a greater leap forward. Since last year, it has been reviewing investments in bio, healthcare, and hydrogen businesses, and has actively pursued mergers and acquisitions (M&A), including acquiring convenience store chain Ministop following furniture company Hanssem. The group reorganized its structure into a headquarters (HQ) system and is promoting fast decision-making and execution through a horizontal organizational structure, focusing on recruiting external talent and establishing a fair organizational culture.

In his New Year’s address earlier this year, Chairman Shin emphasized creative challenges without fear of failure, stating, "If we learn lessons from failure and continue to challenge ourselves, the possibility of seizing new opportunities will increasingly rise."

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