Lotte Publishes Memoir of Founder Shin Kyuk-ho, 'Passion Never Sleeps'

[Asia Economy Reporter Jo In-kyung] Lotte Holdings announced on the 28th that it has published the memoir "Passion Never Sleeps" (Nanam Publishing) to commemorate the 100th anniversary of the birth of the late Honorary Chairman Shin Kyuk-ho, the founder of the Lotte Group.

The memoir is based on the recollections left by Honorary Chairman Shin, supplemented with writings and interviews from Chairman Shin Dong-bin and veteran businesspeople, introducing the life and philosophy of Honorary Chairman Shin.

It covers Honorary Chairman Shin’s growth process in Japan, which is not well known domestically, including his birth in a small village in Ulju, Gyeongnam in 1921, his move to Japan in 1941, and his ventures into the cosmetics business before founding and growing Lotte Confectionery in 1948.

It also tells the story of how he was proposed by the Korean government to enter the steel industry and began concrete business preparations that were eventually aborted, his first entry into the domestic market through Lotte Confectionery, and the development of today’s Lotte, including Seoul’s Sogong-dong Lotte Town, Jamsil Lotte World, and Lotte World Tower, showcasing the entrepreneur Shin Kyuk-ho’s achievements.

The book includes stories about his hometown village submerged due to dam construction, his sponsorship of Go player Cho Chikun and professional boxer Hong Soo-hwan, and anecdotes surrounding the founding of the Lotte Giants baseball team.

To mark the 100th anniversary of founder Shin Kyuk-ho’s birth, Lotte will hold commemorative events in early next month at the Lotte World Tower in Jamsil, Seoul, including the unveiling of a bust and the opening of a memorial hall. The events will be held privately with representatives of employees and family members attending.

Founder Shin Kyuk-ho, who passed away on January 19 last year, has an official birthdate on his family register of October 4, 1922, but his actual birthday is November 3, 1921.