"Most Regret Not Building Lotte World in New York"... 50-Year Friend Shares About Honorary Chairman Shin Kyuk-ho

Chairman Okuno Sho's First Connection with Honorary Chairman Shin Kyuk-ho 50 Years Ago
"Emphasizing the Best and the First... Outstanding Spirit of Challenge"
"Eldest and Second Sons Inherited Father's DNA and Are Excellent"

Honorary Chairman Shin Kyuk-ho of Lotte Group and Chairman Okuno Sho (center right) are holding a meeting related to the construction of Lotte World Tower in August 1995. (Photo by Lotte Group)

[Asia Economy Reporter Seungjin Lee] The late Shin Kyuk-ho, Honorary Chairman of Lotte Group, was described as a "Superman" by Sho Okuno (81), chairman of Okuno Architectural Office and a friend of 40 years.

Chairman Sho made this remark on the afternoon of the 21st when he visited the late chairman’s funeral hall set up at Asan Medical Center in Seoul. Sho, who works in architectural design in Tokyo, Japan, has maintained a 50-year relationship with the late chairman, including participating in the design plan for Lotte Hotel located in Sogong-dong, Seoul.

When asked by reporters to evaluate the late chairman, Sho said, "The person I think of is a Superman and a great man," adding, "He had a warm and friendly personality, and I have known him for 50 years."

The relationship between the late chairman and Sho began with Lotte in Tokyo. According to Sho, about 50 years ago, Lotte was planning to expand its business into Korea, and as a start, they converted the Bando Hotel located in Sogong-dong into Lotte Hotel, which was the first connection with the late chairman.

Sho recalled, "When I first arrived in Seoul, I took a taxi from Gimpo Airport to the Bando Hotel, and the taxi floor was almost falling apart, showing how underdeveloped Seoul was at the time." He added, "Looking back now, building a hotel with 1,000 rooms was a scale and concept that everyone could imagine."

Sho said, "Later, I participated in the Jamsil Lotte World project, which I think was the peak of Chairman Shin’s life." He continued, "Lotte World was a project everyone opposed, but I remember it had a very unique character. Lotte World became a symbol representing Lotte, playing a significant role in all Lotte-related businesses worldwide afterward. He was a person with visionary talent."

Sho also conveyed that the late chairman emphasized being the 'best' and the 'first' during his lifetime. He said, "He always stressed not to focus on making money or profits but to demand being the best and the first in the world." Sho added, "Above all, the idea of inserting a theme park between buildings was a groundbreaking concept. Even though everyone opposed it, he never gave up on such projects and was a person with a strong spirit of challenge."

Sho pointed out that the late chairman’s greatest regret was not achieving the 'New York Lotte World' during his lifetime. Sho said, "He tried to build Lotte World in New York but couldn’t. The Lotte World in Tokyo is also currently halted." He added, "If Lotte World had been built in New York, I think Lotte would have had a different level of global activity."

Regarding former Lotte Holdings Vice Chairman Shin Dong-joo and Lotte Group Chairman Shin Dong-bin, Sho said, "The eldest and second sons have done many things," but added, "There was nothing special to say since it was a funeral hall." He further evaluated, "The father’s excellent DNA has been passed on to his sons, and I think both are great people."

The late Honorary Chairman Shin 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, with the funeral procession scheduled for 6 a.m. on the 22nd. After the procession, a memorial service will be held at 7 a.m. on the 22nd at the Lotte Concert Hall on the 8th floor of Lotte World Mall in Seoul.