In a New Year’s message delivered to executives and staff on Jan. 2, Lotte Group Chmn. Shin Dong-bin said, “Let’s make a new history together based on growth and innovation.”
Chmn. Shin called for fundamental institutional reform of the group’s core businesses and proactively coping with changes.
Chmn. Shin started his speech, saying, “I extend thanks to executives and staff members who made meaningful global achievements in core businesses, such as chemical, food and distraction, despite last year’s hard management conditions.”
He stressed that last year’s achievements, such as the establishment of a large-sized petrochemical complex by Lotte Chemical in Malaysia, Lotte Wellfood’s operation of a new plant in Pune, India and Lotteria’s entry into the U.S. and Malaysian markets.
He called for making this a year of laying a foothold for sustainable growth by narrowing the gap between planning and execution.
Chmn. Shin said, “This year’s management conditions, such as high prices, high interest rates, high exchange rates, geopolitical risks and demographic changes, are required to improve fundamentals of our group’s core businesses.”
He stressed growth and innovation following thorough soul-searching for the business group’s qualitative growth.
Chmn. Shin asked for differentiated outcomes based on autonomy, proactively addressing change trends and completing innovation, being accompanied by strong execution power in order to overcome current hardships.
“When organizations try to explore tasks on their own, they will grow and produce differentiated outcomes,” he said.
Chmn. Shin called for individuals, mindful of the fact that their competitiveness is the source of corporate competitiveness, to break their past practices to achieve growth.
Chmn. Shin urged his executives and staff members to proactively cope with changes.
“With a passive attitude of following changes, growth cannot be achieved, and change trends need to be foresaw from the perspective of Political, Economic, Social and Technological (PEST) analysis, and we’re required to review strategies and methods of working,” he said.
Chmn. Shin demanded they internalize the use of AI as a core competitiveness and spearhead changes by using its potential.
“We have to complete innovation based on strong execution power in the existing core businesses,” he said.
Chmn. Shin demanded for making this year a year of laying a foothold for sustainable growth by narrowing the gap between planning and execution, saying that the necessity for innovation was discussed, but it failed to lead to tangible outcomes.
Lastly, Chmn. Shin asked for workers to make history for Lotte together by trusting the business group’s intrinsic strength and pushing forward with change.
Customers at the Sulhwasoo outlet of Lotte Department Myeongdong Main Store look at freebees designed to promote the cosmetics brand as part of the “2026 New Year’s regular discount,” which was conducted from Jan. 2 to Jan. 18. (Photo: Lotte Department)
Lotte Department Conducts ‘2026 New Year’s Regular Discount’
Lotte Department said on Jan. 1 the company was conducting “2026 New Year’s regular discount” from Jan. 2 to Jan. 18.
The promotion event offered a variety of discounts and “participatory benefits” to encourage customers preparing new starts. A combed 410 brands participated in the event, offering up to 50 percent discounts.
During January, the coldest time of each year, major fashion brands, such as Theory, Comme des Garçons and Paul Smith, were selling coats and winter off-season products at a discount of up to 30 percent.
Traditional brands, such as POLO, Bean Paul, LACOSTE, Hazzys and Tommy Hilfiger, as well as luxury products were offering winter off-season discounts to meet winter fashion demand.
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