Lotte Shin Dongbin "This is the last chance...Taking the crisis as an opportunity for great innovation"

While Lotte Group held a meeting of presidents in the first half of this year, so-called VCM, Lotte Group Chairman Shin Dong-bin said this is the last chance for change and let's make the crisis an opportunity for great innovation.

Chairman Shin Dong-bin said at today's meeting at Lotte Hotel World in Jamsil, Seoul, that he needs to establish challenging goals and detailed plans and work fiercely to achieve them.

The meeting was attended by more than 80 people, including Lotte Group CEO, head of Lotte Group's Future Growth Office Shin Yoo-yeol, who was promoted from regular personnel last year.

Chairman Shin defined 2024 as the most difficult year in the group's history and implemented various measures, including the sale of tangible assets and asset revaluation, to restore market confidence, but stressed that a fundamental solution requires strengthening the fundamental competitiveness of the business.

At the same time, he said that if we do not innovate and innovate now, we will not survive, and called for setting challenging goals, innovating business structures, and establishing global strategies.

Prior to today's meeting, Lotte held an "AI task showcase" on the theme of artificial intelligence innovation, and nine affiliates, including Lotte Innovate and Daehong Planning, participated to show excellent AI utilization cases.