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Lotte Affiliates Announce New Holding Company

October 1, 2017: 12:00 AM EST
In response to challenging retail conditions in Korea and abroad, especially in China, Lotte has announced the launch of a new holding company, Lotte Corporation. Four Lotte affiliates, Lotte Shopping, Lotte Confectionery, Lotte Chilsung Beverage and Lotte Food will merge their investment entities into the new holding company. Lotte Group Chairman Shin Dong-bin and Hwang Kag-gyu, head of the corporate innovation office, will lead the new company. Lotte says the change will make its governance structure more transparent and efficient, while analysts point out that the move will strengthen Shin's control over the company, especially if a rumored merger with Hotel Lotte takes place.
Won Ho-jung, "Lotte begins new governance under holding company", The Korea Herald, October 01, 2017, © The Korea Herald
South Korea
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