Shin Dong-bin, Chairman of Lotte, returns as an internal director of Lotte Shopping…”Strengthening responsible management”

Shin Dong-bin, chairman of Lotte Group, is set to be appointed as an inside director of Lotte Shopping. According to the Financial Supervisory Service’s electronic disclosure system, Lotte Shopping will propose the appointment of Shin as an inside director at the regular shareholders’ meeting on the 24th. Shin previously held the position from 2000 to 2020, resigning just before his term expired on March 22, 2020. His return to the role is seen as an effort to strengthen the company’s core business competitiveness. On the other hand, Shin will not be reappointed to the board of Lotte Chilsung Beverage, as the company decided not to propose his reappointment at their annual shareholders’ meeting on the 25th. Shin’s term with Lotte Chilsung ends on the 22nd, and Lee Young-gu, general representative of Lotte Group’s Food Business HQ, has been nominated as his successor. Additionally, Lotte Shopping plans to reappoint Kang Seong-hyun, CEO of Lotte Mart and Super, as an inside director at the upcoming meeting, while Kim Won-jae, head of financial support at Lotte Distribution HQ, will be newly appointed. Lotte emphasized that Shin’s appointment as an inside director of Lotte Shopping aims to enhance responsible management as distribution remains a key business sector for the group.