Shin Dong-bin's eldest son Shin Yu-yeol appointed as CEO of Lotte Financial Japan
It was belatedly revealed on the 17th that Shin Yu-yeol, the eldest son of Shin Dong-bin, Chairman of Lotte Group, and Executive Director of Lotte Chemical, has been appointed as the CEO of Lotte Financial in Japan.
According to industry sources, Executive Director Shin was appointed as the CEO of Lotte Financial, a Japanese Lotte affiliate, in the second quarter. Lotte Financial is the largest shareholder holding 51% of the shares of Lotte Capital in Korea. Previously, Masamoto Kobayashi served as the CEO of Lotte Financial, but after his recent resignation, Executive Director Shin took over the position.
Earlier, Executive Director Shin was also appointed as the CEO of Lotte Strategic Investment (LSI). LSI operates under a dual CEO system with Chairman Shin Dong-bin and Executive Director Shin.
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Executive Director Shin is also expected to attend the Lotte CEO Meeting (VCM) held on the 18th. The VCM, hosted by Chairman Shin, is a gathering of all Lotte affiliates to discuss group strategies and is held twice a year, in the first and second halves.
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