Lotte Chairman Shin Dong-bin Hosts 2-Day Conference with Executives to Discuss Second Half Strategy

[Financial News] Lotte Group Chairman Shin Dong-bin and affiliate presidents gathered at the Lotte Human Resources Development Institute in Osan, Gyeonggi on the 16th. This is because the Lotte VCM (Value Creation Meeting, formerly known as the Presidents' Meeting), which is held twice a year in the first and second halves, is being held for 1 night and 2 days starting today. This is the first time Lotte Group is conducting the VCM for two days, reportedly due to the unprecedented uncertainty in the external business environment and the need to discuss many issues to strengthen core business competitiveness.
Lotte Group stated that the '2025 Second Half Lotte VCM' began today at the Lotte Human Resources Development Institute in Osan, Gyeonggi, for a 1-night 2-day schedule.
It is known that Chairman Shin is presiding over the meeting, with about 80 people attending, including his eldest son Shin Yu-yeol, head of the Future Growth Office (Vice President), and the CEO of Lotte Holdings. Shin has been attending the VCM since 2023.
The Lotte VCM is held twice a year, in the first half (January) and the second half (July). Typically, the first half VCM reviews the previous year's business performance and shares the current year's business goals. The second half VCM checks the first half's business performance and presents business strategies for each sector, such as food, distribution, and chemicals, by the general managers of each business group. The program also includes guest lectures from external figures and showcases on new startup technologies, AI (artificial intelligence) innovation technologies, etc.
This time, as the meeting is held over two days, new programs have been added, and in-depth discussions on management strategies are expected to take place.
Lotte is accelerating business structure reorganization and financial structure improvement due to the prolonged economic downturn and the impact of China's business expansion, which has caused some affiliates to suffer. They are pursuing a strategy of focusing on core businesses while reorganizing businesses and idle assets that do not align with long-term strategies and investing intensively in new businesses such as bio and AI.
Chairman Shin is expected to instruct the presidents to overcome crises through innovation and strengthen the competitiveness of core businesses at this second half VCM. In his New Year's address this year, Chairman Shin emphasized, "To meet market expectations, more intensive reform is needed this year." He also ordered selection and concentration and high-intensity reform at the first half VCM in January.

wonder@fnnews.com Jeong Sang-hee Reporter