Chairman Shin Dong-bin Returns as Inside Director of Lotte Chilsung Beverage After 3 Years... New Business Expected to Gain Momentum

Shin Dong-bin, Chairman of Lotte Group, has returned as an inside director of Lotte Chilsung Beverage after three years.

Shin Dong-bin, Chairman of Lotte Group. [Photo by Lotte Group]

On the 22nd, Lotte Chilsung Beverage passed the agenda including the appointment of Chairman Shin as an inside director at the regular shareholders' meeting held at Lotte Hotel World in Songpa-gu, Seoul. At the meeting, the approval of the 56th fiscal year financial statements and consolidated financial statements, the appointment of directors, the appointment of outside directors as audit committee members, and the agenda to raise the director remuneration limit from the existing 3 billion KRW to 5.5 billion KRW were also approved.

Chairman Shin's return as an inside director of Lotte Chilsung Beverage comes three years after his resignation at the end of 2019. He was first appointed as an inside director in 2017 and reappointed in 2019 but stepped down in December of the same year. At that time, Chairman Shin also resigned from inside director positions at Lotte Shopping, Hotel Lotte, and Lotte Construction.

With Chairman Shin's return as an inside director, Lotte Chilsung Beverage's new liquor businesses related to wine and whiskey are expected to gain momentum. As Chairman Shin directly oversees management, aggressive investments and mergers and acquisitions related to new businesses are anticipated. Lotte Chilsung Beverage plays a central role in the 'Health and Wellness' business, a key growth driver of Lotte Group.

Meanwhile, at the shareholders' meeting, CEO Park Yoon-gi stated that this year they will focus on fostering mega brands, building a health and lifestyle portfolio, securing future growth engines, advancing the value chain, and creating social value through ESG and establishing a future-oriented organizational culture.