Shin Sang-moo Expands Distribution Footprint "Considering It"
Accompanies Lotte Mall Hanoi Opening Ceremony, Side by Side at Official Event
Year-End Sales Target 80 Billion KRW, Next Year 220 Billion KRW "To Become the Largest Mall in Vietnam"
Vietnam and Indonesia Key Markets for Lotte Group "Group-Level Business Expansion"
"My son is currently studying various things (laughs)."
Shin Dong-bin, Chairman of Lotte, is answering reporters' questions on the 22nd at the L7 by Lotte West Lake Hanoi Hotel in Hanoi, Vietnam. [Photo by Kim Yuri]
Shin Dong-bin, Chairman of Lotte, expressed his affection for his eldest son Shin Yu-yeol, Executive Director of Lotte Chemical, who is receiving 'management training.' On the 22nd, at the L7 Hotel in Hanoi, Vietnam, Shin told reporters that regarding Shin's expanding role into distribution, accompanying him to the opening ceremony of 'Lotte Mall West Lake Hanoi', "He is thinking about it going forward." He explained that Shin is currently studying various fields related to Lotte Group's management and plans to continue his training by overseeing domestic and overseas business sites, including distribution. By supporting Shin at the official event, he is effectively clarifying the succession structure.
At the opening ceremony of Lotte Mall West Lake Hanoi, Shin stood shoulder to shoulder with key Lotte Group executives, including Chairman Shin, Kim Sang-hyun, Vice Chairman of Lotte Distribution Group, Park Hyun-chul, Vice Chairman of Lotte Construction, Lee Hoon-gi, Head of Management Innovation at Lotte Holdings, Ryu Je-don, CEO of Lotte Property & Development, Jung Joon-ho, CEO of Lotte Department Store, Kang Sung-hyun, CEO of Lotte Mart, and Kim Tae-hong, CEO of Hotel Lotte, participating in the ribbon-cutting ceremony.
Shin Yu-yeol, Executive Director of Lotte Chemical, is moving after attending the opening ceremony of 'Lotte Mall Westlake Hanoi' on the 22nd. [Photo by Kim Yu-ri]
Meanwhile, Chairman Shin expressed his satisfaction with the official opening of Lotte Mall West Lake Hanoi after a long period, saying, "The affiliates within Lotte Group cooperated to create a great shopping mall," and "I am very satisfied."
He emphasized that Lotte Mall West Lake Hanoi will actively operate not only in distribution but also in various fields in the Southeast Asian market. Chairman Shin said, "The sales target for Lotte Mall West Lake Hanoi is about 80 billion KRW by the end of this year and about 220 billion KRW next year. It will probably become the largest shopping center in Vietnam." He added, "Going forward, Lotte Group will actively engage in various fields in key markets such as Ho Chi Minh City in Vietnam and Jakarta in Indonesia."
Shin Dong-bin, Chairman of Lotte, is answering reporters' questions on the 22nd at the L7 by Lotte West Lake Hanoi Hotel in Hanoi, Vietnam. [Photo by Kim Yuri]
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