This is an old revision of this page, as edited by 114.149.107.169 (talk) at 13:28, 20 March 2021. The present address (URL) is a permanent link to this revision, which may differ significantly from the current revision.
Revision as of 13:28, 20 March 2021 by 114.149.107.169 (talk)(diff) ← Previous revision | Latest revision (diff) | Newer revision → (diff)Lotte Corporation 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.
See also
- Lotte Card
- Lotte Capital
- Lotte Chilsung
- Lotte Confectionery
- Lotte Department Store
- Lotte World Tower
- Shin Dong-bin, also known as Akio Shigemitsu
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 |
| ||||
| Related | |||||
| Sports | |||||
| People | |||||
