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Will heir of Lotte Group in Korea be naturalized as Korean citizen this year?

Speculation is growing that Lotte Group Chairman Shin Dong-bin’s oldest son, Shin Yoo-yeol, also known by his Japanese name, Satoshi Shigemitsu, may give up his Japanese citizenship this year to be naturalized as a Korean citizen, as he turned 38 years old on Saturday, according to industry officials, Sunday. At this age, one can acquire Korean citizenship regardless of the completion of military service.

Tokyo , Japan , London , City-of , United-kingdom , United-states , American , Japanese , Shin-yoo-yeol , Las-vegas , Satoshi-shigemitsu , Shin-dong-joo

Lotte to sell off 7-Eleven's ATM unit

As part of its business restructuring aims for this year, Lotte Group has decided to sell the ATM business of Korea Seven, formerly known as Lotte PSNet, which oversees the operation of the nation’s 7-Eleven convenience stores. According to Lotte Corp. on Wednesday, the group recently appointed accounting firm Samjeong KPMG to oversee the sale process and identify a suitable company to acquire Korea Seven'...

Samjeong , Kyonggi-do , South-korea , Japan , United-states , Vietnam , Republic-of , Vietnamese , Korea , Japanese , Shin-yoo-yeol , Lotte-psnet

Lotte chief eyes biotech, metaverse, hydrogen, batteries as new growth engines

Lotte Group will realign its business portfolio to focus on four major new growth engines - bio technology, metaverse, hydrogen energy and secondary batteries - and take preemptive steps to sell its non-core businesses to maximize management efficiency, Chairman Shin Dong-bin said.

Vietnam , Republic-of , Pakistan , Japan , Japanese , Shin-yoo-yeol , Yomiuri-shimbun , Lotte-biologics , Lotte , Lotte-group , Lotteria , Japan-to-zensho-holdings

HD Hyundai CEO vows to make smarter construction sites

HD Hyundai will transform construction sites fundamentally with its advanced construction equipment technologies for a more sustainable future for humanity, the business group’s chief executive said at the CES tech trade show in Las Vegas, Wednesday (local time).

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Chaebol leaders heading to CES 2024

Leaders of South Korea’s top conglomerates are set to converge at CES 2024 in Las Vegas next month to immerse themselves in emerging tech trends and expand global business networks. SK Group Chairman Chey Tae-won will be making his second consecutive appearance after last year's CES. “I’m also wondering how far artificial intelligence can be evolved. Drastic changes are expected to be made in t...

South-korea , Boston , Massachusetts , United-states , Korea , Lee-jae-yong , Koo-ja-eun , Chung-euisun , Cheun-kyung-whoon , Han-jong-hee , Jeong-cheol-dong , Shin-yoo-yeol

Succession scheme taking shape at Lotte

Lotte Group's year-end reshuffle announced on Wednesday signals a focus on new growth opportunities, placing the third-generation scion at the forefront. The conglomerate, ranked as the country's sixth-largest, has initiated this year's executive reform as it grapples with declining performance in its major subsidiaries. During an annual board meeting, a panel of 38 affiliates appointed 14 new chief ex...

Japan , South-korea , Korea , Kim-hye-joo , Jones-lang-lasalle , Jang-jae-hoon , Lee-young-gu , Kim-kyo-hyun , Shin-yoo-yeol , Lotte-corporation , Strategy-office , Nomura-securities-co

Lotte's heir apparent moves to tighten grip on group

Shin Yoo-yeol, the heir apparent of Lotte Group's owner family, will be in charge of finding the firm’s next growth engines and mapping out its medium- to long-term vision, the company said Wednesday during a year-end reshuffle of top management.

Vietnam , Republic-of , Shin-yoo-yeol , Lotte-chemical-courtesy-of-group , Lotte , Lotte-group , Lotte-chemical , Lotte-biologic , Nomura-securities , Lotte-group-chairman-shin-dong-bin , Lotte-mall-lake-hanoi

Major conglomerates speed up generational shifts in leadership

Korea’s major conglomerates are moving to speed up generational shifts in leadership, in a strategic move to tackle economic uncertainties by injecting younger approaches to conventional businesses.

Busan , Pusan-gwangyoksi , South-korea , Kumho , Cholla-namdo , Vietnam , Republic-of , Kwak-jung-hyun , Koo-ja-yeol , Kwak-jae-sun , Shin-yoo-yeol , Koo-dong-hui

Lotte's third-generation heir to tighten grip on retail business

Shin Yoo-yeol, the eldest son of Lotte Group Chairman Shin Dong-bin, is set to tighten his grip on the group’s backbone retail business, in a major generational shift to inject fresh momentum into the firm's struggling retail channels.

Singapore , Vietnam , Republic-of , Japan , Japanese , Vietnamese , Shin-yoo-yeol , Lotte-group , Lotte , Lotte-department , Columbia-university

Lotte heir Shin Yoo-yeol leads Japan-based Lotte Financial Corp.

Shin Yoo-yeol, vice president at Lotte Chemical and the eldest son of Lotte Group Chairman Shin Dong-bin, is extending his status as a third-generation successor of the conglomerate, as he was recently tapped to concurrently lead Japan-based Lotte Financial Corp., in addition to his current role at Lotte Chemical.

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