Chairman Shin Dong-bin at Lotte Awards: "Continuous Efforts for Change and Innovation... Everyone is a Protagonist"

2022 Lotte Awards Held... 8 Teams Selected for Grand Prize and Excellence Awards
New Challenge Category Established to Find Lessons from Failures
First Challenge Winner Lotte Duty Free Takes on Passport Digitalization

On the 26th, Lotte held the '2022 Lotte Awards' at the Signiel Seoul Grand Ballroom in Songpa-gu, Seoul, to select teams contributing to the enhancement of Lotte's brand value. Shin Dong-bin, Chairman of Lotte (center in the photo), is taking a commemorative photo after presenting the grand prize.

"I applaud your efforts to achieve change and innovation through relentless attempts."

Shin Dong-bin, Chairman of Lotte, said at the '2022 Lotte Awards' held on the 26th at the Signiel Seoul Grand Ballroom in Songpa-gu, Seoul, "All employees who have done their best in their respective positions with passionate enthusiasm to elevate Lotte's value are the protagonists of the Lotte Awards."

The Lotte Awards is an event that awards cases that contributed to enhancing the value of the Lotte brand. A total of eight teams were selected this year. The award ceremony was attended by Chairman Shin, the CEO of Lotte Holdings, HQ heads, representatives of the awarded group companies, and the winning teams.

The grand prize was awarded to Lotte Hotel Yangon. Despite the difficult situation due to COVID-19 last year, they carried out various activities to overcome the crisis and respond to changes. They strategically invested in equipment and technology to secure market dominance and adopted a premium strategy, achieving high performance, thereby raising the value of Lotte Hotel.

This year, a Challenge category was newly established to award activities that serve as role models simply by the act of challenging itself. Even if it did not lead to results, it was created to applaud creative challenges and accumulate experiences as assets. In his New Year's address earlier this year, Chairman Shin urged employees to have an active challenging spirit, saying, "If you learn lessons from failure and continue to challenge, the possibility of seizing new opportunities will increase."

The inaugural winner of the Challenge category was the Digital Strategy Team of Lotte Duty Free, which attempted to introduce a mobile digital passport. Last year, Lotte Duty Free initiated the introduction of mobile passports, recognizing that physical passports were an inconvenience in offline duty-free shopping. After encountering difficulties in the first attempt, they approached the issue by adding ideas from the perspective of the tourism ecosystem but faced challenges in digitizing passports. However, they were recognized for not giving up, discovering the potential for digital transformation, and continuing their challenge by making improvements.

In addition, seven teams including Lotte Chemical, Lotte Chilsung Beverage, and Lotte Homeshopping received the Excellence Award. Lotte Chemical led the improvement of awareness for resource circulation through the 'Project Loop' activity, a recycled plastic model, contributing to leading Lotte Chemical as an ESG (Environmental, Social, and Governance) company. Lotte Chilsung Beverage led the low-calorie carbonated drink trend with 'Chilsung Cider Zero,' and Lotte Homeshopping expanded its digital content business area by developing 'Lucy' as part of its metaverse business.

On this day, Lotte presented 50 million KRW and 30 million KRW prize money and trophies to the grand prize and excellence award teams, respectively.