"The Era of Ultra-Uncertainty"... Chairman Shin Dong-bin Seeks Growth Strategy Today

Lotte Group Holds First Half VCM (Executive Meeting)
Over 80 Representatives from Each Affiliate Including Chairman Shin Dong-bin Attend

On the 18th, Lotte Group held the first half VCM (Value Creation Meeting, formerly the Presidents' Meeting) chaired by Chairman Shin Dong-bin to discuss this year's management plans and mid- to long-term business strategies.

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

The VCM, held in the afternoon at Lotte World Tower in Jamsil, Seoul, is expected to be attended by about 80 people, including Chairman Shin, the CEO of Lotte Holdings, and representatives of affiliated companies. They are anticipated to discuss the direction and strategies the group should take amid a management environment where uncertainty has been maximized.

The first agenda of the VCM is scheduled to be an external lecture on the theme of "Goal-Oriented Management." Following this, the Lotte Future Strategy Institute will analyze this year's management environment and potential external risk factors and share response plans by business sector. Chairman Shin and others are expected to review last year's management performance and seek ways to enhance core competencies by business sector.

Discussions are also expected on the progress of technology investments and business innovation plans for the "AI Transformation" emphasized by Chairman Shin in his New Year's address. Additionally, the Design Strategy Center will diagnose the group's design competitiveness and share tasks to elevate it to the next level.

Chairman Shin is likely to urge the representatives of each affiliated company attending the meeting to fulfill their roles in achieving the group's mid- to long-term management goals. In his New Year's address this year, Chairman Shin stated, "The global economy has entered an era of hyper-uncertainty with intensified volatility due to prolonged low growth and persistent inflation," and emphasized, "To survive in an uncertain management environment, it is essential to secure overwhelmingly superior core competencies."

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