Shin Dong-bin: "Let's Create 'Opportunities in Crisis'... Utilize AI Across All Work Areas" (Comprehensive)

Emphasizing Challenge and Innovation While Urging Proactive Opportunity Creation
"Only Companies with Overwhelming Advantage Survive... Boldly Restructure Business Models"

Shin Dong-bin, Chairman of Lotte, said on the 2nd, "To leap forward without resting on past successes, we must create opportunities within crises." Following the Value Creation Meeting (VCM) held last September, he once again urged employees to emphasize challenge and innovation while proactively preparing for opportunities.

In his New Year's address delivered that day, Chairman Shin stated, "Changes in population structure and climate issues faced by humanity are transforming consumer paradigms and causing rapid changes in the market." He added, "Lotte Group's future growth could be determined by how we respond to the global complex crisis," calling for continuous challenge and innovation. He further noted, "Opportunities come to everyone, but not everyone can seize them," emphasizing, "Preparation is necessary to grasp opportunities."

Shin Dong-bin, Chairman of Lotte.
[Photo by Lotte Holdings]

As preparation to seize opportunities, Chairman Shin first called for the advancement of core competencies. He urged, "In an uncertain business environment, only companies with overwhelmingly superior core competencies can survive," and requested, "Boldly restructure business frameworks to deliver differentiated value to customers." He explained that by enhancing technological capabilities in future-oriented high value-added businesses, Lotte could secure its position as a world-leading company with global competitiveness.

Chairman Shin also stressed the need to accelerate business innovation in the era of AI transformation. He said, "We must increase acceptance of AI technology already secured across all operations," and added, "If we prepare ahead of others for AI transformation, we can become a new game changer." Previously, Lotte Information & Communication unveiled Lotte's own 'Generative AI' last September. Chairman Shin's directive implies that applying this AI specialized for Lotte Group should break down industry boundaries and promote group synergy effects.

He also called for building a creative and execution-driven organizational culture. He emphasized, "To overcome crises, organizational culture must change to support innovation and encourage new attempts," and urged, "Let us eliminate prejudices against failure within the organization and create a culture that recognizes failure as part of the path to success." Regarding ESG management, Chairman Shin conveyed, "Please establish and implement ESG strategies that resonate with our society."

Chairman Shin acknowledged, "This year's business environment will not be easy," but stressed, "From a certain perspective, crises can become opportunities." He continued, "If we analyze reality coldly and continuously innovate through creative destruction, we can achieve abundant results this year as well," encouraging, "Do not fear the uncertainties of the era, but follow the courage called possibility."

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