Lotte Confectionery Considers Changing Name to 'Lotte Wellfood'... Name to Change After 56 Years

Lotte Confectionery will remove 'Confectionery' from its company name for the first time in 56 years and adopt a new name.

According to industry sources on the 21st, Lotte Confectionery has selected 'Lotte Wellfood' as its new company name and plans to change the name after a board meeting next month.

Since merging with Lotte Food in July last year, Lotte Confectionery has been considering changing its name to evolve into a comprehensive food company, not just confectionery. Due to business diversification into confectionery, bakery, meat processing, and ready meals, the need for a company name that better reflects its identity has increased. This will be the first time Lotte Confectionery changes its name since 1967, about 56 years ago.

A Lotte Confectionery official explained, "This is currently under review, and since it requires approval from the board and shareholders' meeting, nothing has been decided yet."

Meanwhile, discussions about company name changes have been ongoing recently in the food industry. This is part of efforts to find names that better suit diversified business categories, moving away from names focused on past core businesses. Maeil Dairies has also been engaged in similar discussions since last year. Initially, options such as removing 'Dairies' from Maeil Dairies were considered, but no concrete review stage has been reached yet. CJ CheilJedang also had similar discussions at the working level, but these have currently been shelved.