Lee Seung-hoon, Chairman of Lotte Welfare Foundation, "Increasing the number of 'Late Shin Kyuk-ho Kids'... Business expenses increased by 3 billion won"

Year-End Party of 'Lotte Foundation Future Together' on the 18th

Lee Seung-hoon, Chairman of the Lotte Welfare Foundation, announced that starting next year, the 'Late Shin Kyuk-ho Kids' will be actively nurtured. The total project budget will be increased by 3 billion KRW, and 36 new projects will be launched, significantly expanding the number of beneficiary institutions and recipients.

On the 18th, Chairman Lee attended the 2023 Lotte Foundation Year-end Party held at Lotte Hotel Seoul in Sogong-dong, Jung-gu, Seoul, and stated, "As the economic downturn is prolonged, we believe the role of the welfare foundation is becoming increasingly important, so we have decided to significantly increase the total project budget for next year and expand support for the underprivileged." The Lotte Foundation is composed of three major foundations: Lotte Welfare Foundation, Lotte Scholarship Foundation, and Lotte Samdong Welfare Foundation. Lee Seung-hoon serves as chairman of the Lotte Welfare Foundation, while Jang Hye-seon, the great-granddaughter of Honorary Chairman Shin and daughter of former director Shin Young-ja, leads the Lotte Scholarship Foundation and Lotte Samdong Welfare Foundation.

Accordingly, the total project budget for the three Lotte foundations next year will be 18 billion KRW, an increase of about 2 billion KRW compared to this year (15.96 billion KRW). Looking at the detailed project sectors, the scholarship projects are allocated 10 billion KRW (55%), and welfare projects 8 billion KRW (45%). The academic project budget, which was about 760 million KRW (5%) last year, has been excluded, while the scholarship budget of 5 billion KRW has increased by about 3 billion KRW. The plan is to expand the welfare project budget to actively practice sharing with the underprivileged.

Lotte Welfare Foundation Chairman Lee Seung-hoon is explaining next year's business plan at the Lotte Foundation year-end party held on the 18th.
[Photo by Lee Seo-hee]

Furthermore, Chairman Lee introduced representative new projects for next year. The Lotte Scholarship Foundation will launch a total of 36 new projects next year, benefiting 1,879 institutions. In the scholarship sector, new projects such as the 'Shin Kyuk-ho Young Entrepreneur Award' and 'Lotte! Shin Kyuk-ho Southeast Asia Talents' will be introduced, while in the welfare sector, new projects like 'Lotte! Sharing Briquettes of Love,' 'Support for Disabled Independence,' and 'Support for Disabled Sports' will be launched and expanded.

The Shin Kyuk-ho Young Entrepreneur Award is a project supporting university student entrepreneurs interested in startups, with a total project budget of 300 million KRW allocated for next year. The Shin Kyuk-ho Southeast Asia Talents project aims to nurture low-income, high-achieving talents overseas. Cambodia and the Philippines have been added to the existing supported countries of Vietnam, Malaysia, Indonesia, and Pakistan, increasing the total project budget by about 200 million KRW compared to last year.

Meanwhile, at the event, Jang Hye-seon, who was appointed chairman of the Lotte Samdong Welfare Foundation in August this year and inaugurated as chairman of the Lotte Scholarship Foundation on the 3rd, also attended. Jang, the great-granddaughter of Honorary Chairman Shin and daughter of former director Shin Young-ja, expressed in her congratulatory speech, "I am grateful to become part of the Lotte Foundation family this year and would like to thank the various partner institutions and collaborators present here. What the Lotte Foundation values most is to be a small spark of sharing for neighbors, and we will always do our best on the ground to achieve this."

The 2023 Lotte Foundation Year-end Party was attended by Chairman Jang Hye-seon, Chairman Lee Seung-hoon, Lee Jong-chan, President of the Liberation Association, Ra Jong-eok, Chairman of the Unification Culture Research Institute, and executives and employees of the Lotte Foundation and related organizations.

Lotte Scholarship Foundation, Jang Hye-seon, Chairperson of Lotte Samdong Welfare Foundation, delivers an inaugural speech at the Lotte Foundation year-end party held on the 18th.
[Photo by Lee Seo-hee]

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