Former Prime Minister Lee Hong-gu: "The 'Great Giant' Shin Kyuk-ho Who Foreseen the Future"

Funeral Ceremony for Shin Kyuk-ho, Honorary Chairman of Lotte Group, at Jamsil on the 22nd
Memorial Address by Honorary Funeral Committee Chairman

On the morning of the 20th, former Prime Minister Lee Hong-gu, who served as the honorary funeral committee chairman, is heading to the funeral hall set up at Asan Medical Center in Songpa-gu, Seoul, to pay his respects to the late Shin Kyuk-ho, Honorary Chairman of Lotte Group. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Cha Min-young] "At every moment of starting a business, he thought about the country's economy and the lives of our people."

Former Prime Minister Lee Hong-gu delivered the eulogy at the funeral ceremony of Shin Kyuk-ho, Honorary Chairman of Lotte Group, held on the morning of the 22nd at the Lotte Concert Hall in Jamsil Lotte World Mall, expressing the late chairman in this way.

Former Prime Minister Lee referred to Honorary Chairman Shin as a "great giant," opening his remarks by saying, "It is not only because of the self-made myth of building a leading company with bare hands."

He recalled, "When our land was devastated and many people were starving, you started your business on this land with the sole determination to help the economic development of your motherland. You launched the food business believing that all people must be freed from hunger, and in a resource-poor country, you built theme parks and hotels, which no one dreamed of at the time, saying that tourism was the way for the country to survive."

He continued, "To create more industries, you believed that distribution, like lifeblood, must develop, and you took the lead in planting the seeds of the distribution industry in our country. You also started the chemical business because you believed that basic industries must be strong."

Former Prime Minister Lee added, "The businesses you started have now become pillars supporting South Korea's economy. In that sense, you were a great pioneer of our era. You were a trailblazer who foresaw the future of the national economy and cultivated its foundation."

He concluded the eulogy by saying, "Having devoted your entire life solely to business, I hope you now shed your heavy burdens and enjoy peace. Those of us left behind will work harder to spread your great will far and wide."

Honorary Chairman Shin Kyuk-ho passed away at 4:29 p.m. on the 19th at the age of 99. The funeral was held as a group funeral to honor the founder of Lotte Group. Prior to the funeral ceremony, the funeral procession was held privately with only family members attending. After circling Seoul Lotte World Tower, the hearse headed to the burial site in Ulsan. The body is scheduled to be interred at the ancestral burial ground in Seonyeong, Ulju-gun, Ulsan, his hometown.