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Lotte Co., Ltd. is a multinational food and shopping corporation active in Japan and South Korea. Lotte was first established in June 1948 in Tokyo, by a Japanese businessman of Korean descent, known as Shin Kyuk-Ho in Korean or Takeo Shigemitsu (重光武雄, Shigemitsu Takeo?) in Japanese. From Tokyo, Lotte expanded into South Korea with the establishment of Lotte Confectionary Co., Ltd in Seoul on April 3, 1967.
Lotte Group consists of over 60 business units employing 60,000 people engaged in such diverse industries as candy manufacturing, beverages, hotels, fast food, retail, financial services, heavy chemicals, electronics, IT, construction, publishing, and entertainment. Lotte's major operations are overseen by Shin's family in Japan and South Korea, with additional businesses in China, Thailand, Indonesia, Vietnam, India, USA, Russia, Philippines, Pakistan and Poland (Lotte bought Poland's largest candy company Wedel from Kraft Foods in June 2010). Today, Lotte is the largest confectionery manufacturer in South Korea, and is the third largest in Japan behind Meiji Seika and Ezaki Glico in terms of sales revenue when only the sales of Lotte's confectioneries are counted.
Management [edit]
Lotte Holdings Co., Ltd. – Lotte group's world headquarters – are located in Shinjuku, Tokyo : Myung-dong, Seoul. It is controlled by the founder Shin Kyuk-Ho's family.
Business [edit]
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 Samkang, Lotteria, E Wedel
- Shopping: Lotte Shopping,[2] Lotte Mart, Lotte Department Store, Lotte-Assi Plaza[3]
- Entertainmnet: Lotte Cinema, Lotte Entertainment (investment and distribution of domestic and international films)
- Finance: Lotte Insurance, 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
- Trade: Lotte international[4]
- Oils: Honam,[5] KP Chemical[6]
Sports [edit]
Lotte also owns professional baseball teams
Lotte R&D Center [edit]
History [edit]
Lotte's first company was founded in June 1948 in Tokyo, Japan by a Japanese businessman of Korean descent, known as Shin Kyuk-Ho in Korean, or Shigemitsu Takeo (重光 武雄?) in Japanese, two years after graduating 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.
The source of the company's name is neither Korean nor Japanese, but German. Shin 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[citation needed] 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 "Your palate's sweetheart, Lotte" (お口の恋人,ロッテ, Okuchi no koibito, Rotte?).
See also [edit]
References [edit]
External links [edit]
Chaebol (South Korean conglomerates)
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