Lotte Corporation: Difference between revisions

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	{{redirect\|Lotte (conglomerate)\|the Japanese company\|Lotte Holdings}}
	{{more citations needed\|date=September 2018}}
	{{Infobox company
	\| name = Lotte Corporation
	\| logo = Lotte "Value Line" logo.svg
	\| logo_size = 150px
	\| logo_alt =
	\| logo_caption =
	\| logo_padding =
	\| image = Lotte logo.svg
	\| image_size = 150px
	\| image_alt =
	\| image_caption =
	\| trading_name =
	\| native_name = {{ubl\|롯데 그룹}}
	\| native_name_lang = <!-- Use ISO 639-1 code, e.g. "fr" for French. For multiple names in different languages, use {{Lang\|\|}}. -->
	\| romanized_name =
	\| former_name =
	\| type = ]
	\| traded_as = {{KRX\|004990}}
	\| ISIN =
	\| ISIN2 =
	\| industry = ]
	\| genre =
	\| fate =
	\| predecessor = ]
	\| successor = <!-- or: \| successors = -->
	\| founded = {{Start date and age\|1967\|3\|24}}
	\| founder = ]
	\| defunct = <!-- {{End date\|YYYY\|MM\|DD}} -->
	\| hq_location = ]
	\| hq_location_city = ]
	\| hq_location_country = South Korea
	\| num_locations =
	\| num_locations_year = <!-- Year of num_locations data (if known) -->
	\| areas_served = Worldwide
	\| key_people = {{ubl\|Shin Kyuk-ho\|]}}
	\| products =
	\| brands =
	\| production =
	\| production_year = <!-- Year of production data (if known) -->
	\| services = {{ubl\|]\|]}}
	\| revenue = ]88,562 million<ref name=report>{{cite web\|title= Lotte Corporation Financial Statement\|url=http://www.lotte.co.kr/global/en/ir/finance.do\|access-date= January 10, 2021}}</ref>
	\| revenue_year = 2019
	\| operating_income = ]1,749 million<ref name=report /> (2019)
	\| net_income = ]-4,116 million<ref name=report />
	\| net_income_year = 2019
	\| aum = <!-- Only for financial-service companies -->
	\| assets = ]156,058 million<ref name=report />
	\| assets_year = 2019
	\| equity = ]77,925 million<ref name=report />
	\| equity_year = 2019
	\| owner = <!-- or: \| owners = -->
	\| members =
	\| members_year = <!-- Year of members data (if known) -->
	\| num_employees =
	\| num_employees_year = <!-- Year of num_employees data (if known) -->
	\| parent =
	\| divisions =
	\| subsid =
	\| website = {{URL\|www.lotte.co.kr/global/en/main.do\|www.lotte.co.kr}}
	\| footnotes =
	}}

	{{Infobox East Asian name\|embed=yes
	\| koreanname =
	\| koreancontext =
	\| hangul = 롯데 그룹
	\| hanja =
	\| rr = Rotdegeurup
	\| mr = Rottegŭrup, Rotte-kŭrup
	\| japanesename =
	\| kanji =
	\| kana =
	\| kanahist =
	\| hiragana =
	\| katakana =
	\| shinjitai =
	\| kyujitai =
	\| romaji =
	\| hepburn =
	\| othername =
	\| field1 = Japanese
	\| content1 = ロッテグループ
	}}

	'''Lotte Corporation''' ({{Korean\|hangul = 롯데 그룹}} ''lotte geurup'') is a South Korean ] ]. Lotte began its history on June 28, 1948, by Korean businessman ] in ]. Shin expanded Lotte to his ancestral country, South Korea, with the establishment of ] in ] on April 3, 1967. Lotte eventually grew to become South Korea's fifth largest business conglomerate.<ref>{{Cite news\|url=http://english.yonhapnews.co.kr/news/2017/11/01/0200000000AEN20171101003000320.html\|title=Chaebol rankings seesaw over 2 decades\|work=Yonhap News Agency\|access-date=2017-12-19\|language=en}}</ref>		'''Lotte Corporation''' ({{Korean\|hangul = 롯데 그룹}} ''lotte geurup'') is a South Korean ] ]. Lotte began its history on June 28, 1948, by Korean businessman ] in ]. Shin expanded Lotte to his ancestral country, South Korea, with the establishment of ] in ] on April 3, 1967. Lotte eventually grew to become South Korea's fifth largest business conglomerate.<ref>{{Cite news\|url=http://english.yonhapnews.co.kr/news/2017/11/01/0200000000AEN20171101003000320.html\|title=Chaebol rankings seesaw over 2 decades\|work=Yonhap News Agency\|access-date=2017-12-19\|language=en}}</ref>

Revision as of 13:27, 20 March 2021

Lotte Corporation (Korean: 롯데 그룹 lotte geurup) is a South Korean multinational conglomerate. Lotte began its history on June 28, 1948, by Korean businessman Shin Kyuk-ho in Tokyo. Shin expanded Lotte to his ancestral country, South Korea, with the establishment of Lotte Confectionery in Seoul on April 3, 1967. Lotte eventually grew to become South Korea's fifth largest business conglomerate.

Lotte Corporation consists of over 90 business units employing 60,000 people engaged in such diverse industries as candy manufacturing, beverages, hotels, fast food, retail, financial services, industrial chemicals, electronics, IT, construction, publishing, and entertainment. Lotte runs additional businesses in China, Thailand, Malaysia, Indonesia, Vietnam, India, United States, United Kingdom, Kazakhstan, Russia, Philippines, Myanmar, Pakistan and Poland (Lotte bought Poland's largest candy company Wedel from Kraft Foods in June 2010), Australia and New Zealand (Lotte successfully bought 4 duty free stores in Australia and 1 in New Zealand from JR/Group in 2019). Today, Lotte is the largest confectionery manufacturer in South Korea.

History

Lotte was founded in June 1948, by Korean businessman Shin Kyuk-ho in Tokyo, Japan, two years after he graduated from Waseda Jitsugyo High School (早稲田実業学校). Originally called Lotte Co., Ltd, the company has grown from selling chewing gum to children in post-war Japan to becoming a major multinational corporation.

Name

The source of the company's name is neither Korean nor Japanese, or even Chinese, but German. Shin Kyuk-ho was impressed with Johann Wolfgang von Goethe's The Sorrows of Young Werther (1774) and named his newly founded company Lotte after the character Charlotte in the novel ("Charlotte" is also the name of a new brand of deluxe movie theatres run by Lotte). Lotte's current marketing slogan in Japan is "The sweetheart of your mouth, Lotte" (お口の恋人,ロッテ, Okuchi no koibito, Rotte).

Management

Lotte Corporation – Lotte group's world headquarters – are located in Myeongdong, Seoul and Lotte Holdings Co., Ltd. in Shinjuku, Tokyo. It is controlled by the founder Shin Kyuk-Ho's extended family.

Business

Lotte group's major businesses are food products, shopping, finance, construction, amusement parks, hotels, trade, oil and sports.

Food Products: Lotte Confectionery, Lotte Chilsung, Lotte Foods, Lotteria, E Wedel, Lotte Food, Angel-in-us, Lotte Cool, Lotte Fresh Delica, Lotte Shopping Food Division, Lotte Kolson (Pakistan)
Shopping: Lotte Duty Free, Lotte Shopping, Lotte Mart, Lotte Department Store, Lotte-Assi Plaza
Entertainment: Lotte Cinema, Lotte Entertainment (investment and distribution of domestic and international films)
Finance: Lotte Card, Lotte Capital
Housing: Lotte Castle High Rise Apartment Complex
Amusement parks: Lotte Cinema, Lotte World in Seoul, one of the world's largest indoor theme parks.
Hotels: Lotte Super Tower 123, skyscraper in Seoul, South Korea, 2014 and Busan Lotte Tower skyscraper in Busan, South Korea, 2013, Lotte City Hotel in Daejeon, Lotte New York Palace in New York City
Trade: Lotte International
IT / Electronics: Korea Fuji Film, Lotte Canon, Lotte IT, Lotte.com, Mobidomi
Heavy chemicals / construction / machinery: Honam Petrochemical, KP Chemical, Lotte Engineering & Construction, Lotte Engineering & Machinery, Lotte Aluminum
Car rental: Lotte rent-a-car
Transport service: Andi Mack-Lotte Transport Corporation (tourist transport service in partnership with Andi Mack)

Sports

Lotte also owns professional baseball teams

Chiba Lotte Marines in Japan (1971–present)
Lotte Giants in Busan, South Korea (1982–present).

Lotte R&D Center

Korea R&D Center : 201, Magokjungang-ro, Gangseo-gu Seoul, South Korea
Japan R&D Center : Saitama, Saitama Prefecture, Japan

Corruption scandal

In June 2016, companies of the group were raided by South Korean prosecutors, investigating into a possible slush fund as well as breach of trust involving transactions among the group's companies. The investigation forced its Hotel Lotte unit to abandon an initial public offering and Lotte Chemical Corp to withdraw from bidding for Axiall Corp. Vice chairman, Lee In-won, was found dead in August same year. He was suspected of suicide just hours before being questioned by prosecutors. Lee was considered the top lieutenant of Chairman Shin Dong-bin.

References

"Chaebol rankings seesaw over 2 decades". Yonhap News Agency. Retrieved 2017-12-19.
"Lotte Duty Free expands into Australia and New Zealand". Inside Retail. 2019-03-26. Retrieved 2021-02-15.
www.lottehotel.com. "Lotte Hotel Seoul - Hotel Facilities, Fitness, Spa, Conference room". www.lottehotel.com. Retrieved 19 August 2017.
"Korean Chaebols: Lotte. The Origin of the Lotte Name". Retrieved 20 April 2014.
Chevalier, Michel (2012). Luxury Brand Management. Singapore: John Wiley & Sons. ISBN 978-1-118-17176-9.
"Lotteshopping.com". Archived from the original on 27 February 2012. Retrieved 19 August 2017.
"About Us: Korean Market in Maryland & Virginia".
"LOTTE TRADING". www.lotteintl.com. Retrieved 19 August 2017.
"LOTTE CHEMICAL". english.hpc.co.kr. Retrieved 19 August 2017.
"KPchem.co.kr". Retrieved 19 August 2017.
"lotterentacar.net". Retrieved 19 August 2017.
^ Jin, Hyunjoo; Lee, Se Young (August 26, 2016). "Lotte vice chairman found dead amid probe; suicide suspected". Reuters. Retrieved 26 August 2016.

External links

Official website (Korean)
Official website (English)

Lotte Corporation

Subsidiaries

Current	Hotel Lotte Lotte Duty Free Lotte Hotels & Resorts Lotte World Lotte Capital Lotte Chemical Lotte Chemical Titan Lotte Chilsung Lotte Liquor Lotte Cultureworks Lotte Cinema Lotte Entertainment Lotte Global Logistics Lotte GRS Lotteria Angel-in-us Krispy Kreme Korea Lotte Rental Lotte Shopping Lotte Department Store Lotte Hi-Mart Lotte Mart Lotte Kolson Lotte Wellfood Guylian
Former and defunct	Lotte Card Hanaro Card Mybi Lotteria Japan

Sports

People

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