Lotte Group Chairman Shin Dong-bin said, “Failure is an example of attempting to do something, so a creative, challenging environment without the fear of failure is hoped to be created.”
Chairman Shin made the remarks at his New Year’s message issued on Jan. 3. He delivered the remarks to the Group’s executives and staff members in a message urging them to make preparations for the future with a challenging spirit.
He said, “This year is a time when we have to make a foothold to make a greater take-off beyond the normalization of businesses.”
Chairman Shin cited a quote by Wayne Gretzky, considered the greatest player in the history of ice hockey, who said, “You miss 100 percent of the shots you don't take.” He emphasized aggressive challenges, saying, “The achievements we’ve made so far are made possible through numerous challenges and failures.”
“Attempting innovation is essential for future growth,” Chairman Shin said. “If you continue to challenge after learning the lessons of failure, chance are high you can seize opportunities.”
In order to create a challenging environment, he called for organizational opening and diversity, powerful execution and support with investments in a future-oriented perspective.
“A merit-based environment should be built so optimal manpower can demonstrate their capabilities in the convergence environment regardless seniority, sex, regional and educational connection, and diversity will be a source of our competitive edge and challenging energy,” he said.
“Challenges are supported by fast, precise execution, and an organizational structure needs to be transformed into a role-oriented, horizontal one to nimbly cope with changes,” he said. Chairman Shin said, ”It is meaningless to make short-term outcomes without investing brand, design and IT.”
He stressed investments to ramp up the group’s capabilities. He added that each executive and staffer should substantiate ESG activities, and he or she has to transfer them into action on their own.
Lotte Corp. published a report on Lotte Group’s activities related to sustainable management.
Lotte Corp. Ramps Up Sustainable Management
Lotte Group has been accelerating efforts to build a strong ESG management regime. Each board of the business group’s listed companies has inaugurated an ESG committee and operated an ESG task force designed to promote ESG management in a systematic and transparent fashion.
Lotte Corp., the holding company of Lotte Group, published a report on sustainable management, encompassing the group’s activities related to ESG management. The step is designed to unveil the group’s business performances and ESG activities and proactively communicate with customers and stakeholders.
Subsidiaries of Lotte Group, including Lotte E&C, Lotte-Hi-mart and Lotte Chilsung Beverage, are to publish a report on sustainable management, reflecting each company’s characteristics.
Lotte Group is the first Korean conglomerate to have established an ESG management committee under the control of each of the listed subsidiaries and required the publication of a report on sustainable management.
Lotte Chemical has become the first Korean company to have completed the verification of a carbon capture utilization (CCU) technology facility.
