Lotte Corporation

Lotte Logo (2017)

Lotte Corporation is a South Korean multinational conglomerate with headquarters in Seoul, South Korea, and Tokyo, Japan. Founded in 1948 by Shin Kyuk-ho, the company has grown to become one of the largest chaebols in South Korea, with a diverse range of businesses spanning various industries.

History

Lotte Corporation was established in 1948 in Tokyo, Japan, by Shin Kyuk-ho. Initially, the company started as a confectionery manufacturer, producing chewing gum. The name "Lotte" was inspired by the character Charlotte from the novel "The Sorrows of Young Werther" by Johann Wolfgang von Goethe. In 1967, Lotte expanded its operations to South Korea, marking the beginning of its transformation into a multinational conglomerate.

Business Sectors

Lotte Corporation operates in several key sectors, including:

Confectionery

Lotte is well-known for its confectionery products, including chewing gum, chocolates, and biscuits. The company has a significant market share in South Korea and Japan and exports its products to various countries worldwide.

Retail

Lotte operates a vast network of retail businesses, including Lotte Department Store, Lotte Mart, and Lotte Duty Free. These retail outlets offer a wide range of products, from luxury goods to everyday necessities.

Food and Beverage

Lotte's food and beverage division includes the production and distribution of processed foods, beverages, and fast food. Notable brands under this division include Lotte Chilsung, a leading beverage company in South Korea.

Hospitality

Lotte operates several hotels and resorts under the Lotte Hotels & Resorts brand. These establishments are located in major cities around the world, providing luxury accommodation and services.

Chemicals

Lotte Chemical is a significant player in the chemical industry, producing a variety of petrochemical products. The company has manufacturing facilities in South Korea and other countries.

Construction

Lotte Engineering & Construction is involved in various construction projects, including residential, commercial, and infrastructure developments.

Corporate Structure

Lotte Corporation is structured as a holding company, with numerous subsidiaries operating under its umbrella. The company is managed by the founding family, with significant influence from the chairman and other family members.

Controversies

Lotte Corporation has faced several controversies over the years, including legal disputes, family feuds, and allegations of corruption. These issues have occasionally impacted the company's reputation and operations.

See Also

• Shin Kyuk-ho
• Lotte Department Store
• Lotte Mart
• Lotte Duty Free
• Lotte Chilsung
• Lotte Hotels & Resorts
• Lotte Chemical
• Lotte Engineering & Construction