President Moon Urges Lotte to Continue Serving as a Bridge Between Korea and Japan After Shin Kyuk-ho's Passing (Comprehensive)

Sangjo Kim and Namgi Hong Visit the Funeral Hall of Lotte Honorary Chairman Shing-Ho Shin in the Afternoon
Gathering of Business Leaders... Prime Minister Nak-yeon Lee Visits for Lunch

[Asia Economy reporters Cha Min-young and Lee Seung-jin] The procession of government and corporate senior officials paying their respects to Shin Kyuk-ho, Honorary Chairman of Lotte Group, who passed away at the age of 99, continued until the evening of the 20th.

At around 5:42 p.m. that day, Kim Sang-jo, Chief of Staff to the President, entered the funeral hall at Asan Medical Center in Seoul and conveyed, "(President Moon Jae-in) praised the deceased as a founding generation who laid the foundation of the Korean economy from distribution to food and petrochemicals."

He added, "He especially highly evaluated the role the deceased played as an economic bridge between Korea and Japan, and asked that Lotte Group continue to play a role in private diplomacy in Korea-Japan relations in the future."

Hong Nam-ki, Deputy Prime Minister for Economy, who visited together, said, "The deceased pioneered businesses in various fields such as food, distribution, tourism, and construction during the industrial wasteland era, and later expanded into petrochemicals, laying the cornerstone for Korea's economic and industrial development."

He continued, "At a time when entrepreneurial spirit is desperately needed, I think the same challenging pioneering spirit and passionate management shown by the deceased will resonate greatly now and in the future," and offered his condolences.

SPC Group Chairman Huh Young-in is seen leaving after paying his respects at the funeral hall set up for the late Shin Kyuk-ho, Honorary Chairman of Lotte Group, at Seoul Asan Medical Center in Songpa-gu, Seoul, on the afternoon of the 20th. Photo by Kang Jin-hyung aymsdream@

Heo Young-in, Chairman of SPC Group, visited the funeral hall along with key executives of the group including Lee Myung-gu, CEO of SPC Samlip, Hwang Jae-bok, CEO of Paris Croissant, and Heo Jin-su, Head of SPC Group Global BU. Chairman Heo said, "I express my deep condolences on the passing of Honorary Chairman Shin Kyuk-ho, who devoted himself to economic growth and industrial development," adding, "He was a pioneering figure who laid the foundation for the domestic food and distribution industries and built a global company."

In addition, Heo Tae-soo, Chairman of GS Group, Seo Jung-jin, Chairman of Celltrion, Kim Ju-young, Chairman of the Federation of Korean Trade Unions, and Cho Won-tae, Chairman of Hanjin Group, visited the funeral hall one after another to pay tribute to the deceased.

Chairman Cho Won-tae of Hanjin Group is leaving after paying his respects at the funeral hall of the late Shin Kyuk-ho, Honorary Chairman of Lotte Group, set up at Seoul Asan Medical Center in Songpa-gu, Seoul on the 20th. Photo by Kang Jin-hyung aymsdream@

Earlier that day, at around 1:52 p.m., former Prime Minister Lee Nak-yeon visited the funeral hall of Honorary Chairman Shin. After about 10 minutes of paying respects, Lee said, "I had no personal connection, but I met Shin Dong-bin, Chairman of Lotte, several times," adding, "There was a period when the deceased's life and the Korean economy followed the same trajectory, rising from nothing to achieve high growth and miraculous accomplishments."

He continued, "He was one of the key figures who led Korea's high economic growth, and as he was the longest-lived among those key figures, and now that elder has also passed away, I came to express my condolences."

Lee Jae-hyun, Chairman of CJ Group, is leaving after paying his respects at the funeral hall of the late Shin Kyuk-ho, Honorary Chairman of Lotte Group, set up at Seoul Asan Medical Center in Songpa-gu, Seoul, on the afternoon of the 20th. Photo by Kang Jin-hyung aymsdream@

Lee Jae-hyun, Chairman of CJ Group, visited the funeral hall with Park Geun-hee, Vice Chairman of CJ Group, Kim Hong-gi, CEO of CJ Corporation, Kang Shin-ho, CEO of CJ CheilJedang, and Heo Min-hoe, CEO of CJ ENM. At the condolence visit, Chairman Lee reportedly said, "It is regrettable to lose a giant who greatly contributed to our country's economic growth and industrial development. I pray for the deceased's soul."

Earlier that morning, Lee Jae-yong, Vice Chairman of Samsung Electronics, was the first business leader to visit for condolences. After Vice Chairman Lee visited at around 9:37 a.m., Chung Ji-sun, Chairman of Hyundai Department Store, Harry Harris, U.S. Ambassador to Korea, and Choi Chang-won, Vice Chairman of SK, also paid their respects.

Shin Kyuk-ho, Honorary Chairman of Lotte Group, passed away at 4:29 p.m. on the 19th at the age of 99. The funeral will be held as a group funeral to honor the founder of Lotte Group. The funeral procession is scheduled for 6 a.m. on the 22nd, and Honorary Chairman Shin will be laid to rest in his hometown, Seonyeong in Ulju-gun, Ulsan.