Lotte Confectionery Changes Name for the First Time in 56 Years... Starting April as 'Lotte Wellfood'

Lotte Confectionery has removed 'Confectionery' from its company name for the first time in 56 years and adopted a new name.

Lotte Confectionery Headquarters. [Photo by Lotte Confectionery]

On the 23rd, at the regular shareholders' meeting held at Lotte Confectionery headquarters in Yangpyeong-dong, Yeongdeungpo-gu, Seoul, Lotte Confectionery passed a resolution to change its company name to 'Lotte Wellfood.' At the meeting, internal directors Lee Young-gu and Lee Chang-yeop were also appointed.

The new company name will be applied starting from the 1st of next month. The English notation will also change to 'Lotte Wellfood (LOTTE WELLFOOD),' and the website domain address will be updated accordingly.

This is the first time Lotte Confectionery has changed its company name since 1967, about 56 years ago. After merging with Lotte Food in July last year, Lotte Confectionery has been reviewing the plan to change its name to evolve into a comprehensive food company rather than just a confectionery business. The need for a company name that better reflects its identity has grown due to business diversification into confectionery, bakery, meat processing, and ready-to-eat meals.

Lotte Confectionery is considered a key affiliate that will lead the 'Health & Wellness' business, a major growth keyword for Lotte Group, along with Lotte Chilsung Beverage. This year, as merger synergies begin in earnest, it is expected to accelerate the expansion of its confectionery business, ready-to-eat meals, meat processing, as well as health functional foods and functional food businesses.