Shin Young-ja, Eldest Daughter of Lotte Founder Shin Kyuk-ho and Chair of Lotte Foundation, Dies at 85

Shin Young-ja, the eldest daughter of the late Shin Kyuk-ho, founder and honorary chairman of Lotte Group, passed away on the 21st at the age of 85, according to Financial News.
The funeral hall has been set up at Severance Hospital in Sinchon, Seoul.
Born in 1942 to honorary chairman Shin Kyuk-ho and Noh Soon-hwa, who passed away in 1951, Shin joined Hotel Lotte in the 1970s. She was deeply involved in the growth of the group’s early retail business and, as a woman at the time, played a rare and pivotal role on the front lines of management.
She is credited in particular with helping launch the nation’s first duty-free shop and significantly contributing to the growth of Lotte Hotels & Resorts, Lotte Department Store, and Lotte Duty Free. As a registered executive at Lotte Department Store and Lotte Shopping during Lotte Group’s expansion, she handled practical affairs such as product planning and brand sourcing, and played a central role in responding to the premiumization of the domestic retail market.
Later, Shin sold most of her shares in key affiliates such as Lotte Corporation, distancing herself from group management and focusing on foundation activities.
She became the first chair of the Lotte Samdong Welfare Foundation in 2009. In 2012, she went on to serve as the second chair of the Lotte Scholarship Foundation and the third chair of the Lotte Welfare Foundation, dedicating herself to social contribution projects. She placed particular emphasis on nurturing young talent and supporting marginalized groups.
Under this spirit of sharing spanning three generations, the Lotte Foundation has provided support worth about 250 billion won to roughly 520,000 people over the past 40 years.
A Lotte Foundation official stated, "Chair Shin devoted great energy to social contribution projects," adding, "In particular, she made significant efforts to foster young talent and support underprivileged communities."
The funeral will be held over three days as a Lotte Foundation funeral, with her eldest daughter, Chair Jang Hye-seon, serving as chief mourner. She will be laid to rest at Hannam Park Cemetery in Gwangju, Gyeonggi Province.
security@fnnews.com Reporter Park Kyung-ho Reporter