Kim Sang-hyun, Vice Chairman of Lotte Distribution Group's '4C Management'... "The First Shopping Destination"

Mentioning Last Year’s Performance and Encouraging Employees
"Turnaround in Underperforming Divisions Is Essential"... Emphasizing Results
Urging the 4Cs: Challenge, Courage, Change, and Chance Taking

Kim Sang-hyun, Vice Chairman and General Representative of Lotte Distribution Group, encouraged the efforts of employees and shared this year’s growth strategies and plans through a CEO letter posted on the internal intranet of Lotte Distribution Group on the 22nd.

On this day, Vice Chairman Kim pointed out that there were limitations and difficulties in the overall growth of the distribution group last year. He said, "A turnaround is absolutely necessary this year for the disappointing parts, and to achieve this, we must closely analyze market changes and carefully examine customer needs."

He continued, "In 2022, we announced ‘Transformation 1.0,’ laying the foundation for sustainable growth and investment through financial structure and organizational improvement," adding, "Last year, we began a new journey called ‘Transformation 2.0’ and are promoting core strategies to become ‘the customer’s first shopping destination,’ so this year must be the year when our growth strategies bear fruit."

The growth strategies emphasized by Vice Chairman Kim this year include ▲strengthening merchandise planning (MD) that exceeds customer expectations with various new products and differentiated services ▲expanding global business based on the rapidly growing Southeast Asian market ▲pursuing new businesses to generate new sales and introducing new business models utilizing AI. He also mentioned the need to create a healthy and good workplace.

He pointed out that to execute growth strategies and achieve goals, the organization must always put customers first and know customers better than competitors. Furthermore, he explained that with curiosity and by asking ‘why,’ the organization should not be satisfied with the present but continuously improve.

He urged employees to put into action the mindset of the ‘4C (Challenge, Courage, Change, Chance Taking).’

He stated, "Nothing happens without Challenge," and added, "In a rapidly changing business environment, I hope everyone will challenge themselves with confidence in their abilities and a proactive attitude." He further emphasized, "We must remember that innovation comes from the courage to try new things."

He said, "To avoid continuing meaningless tasks out of inertia, each person should ask fundamental questions about their work, constantly find improvements, and embrace Change," and "Do not neglect efforts to seize opportunities (Chance Taking), but calmly analyze and predict the market and trends to prepare one step ahead."

Vice Chairman Kim expressed, "I hope we can welcome abundant results together with the mindset of One Team, One Mind, One Mission."

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