'Third-generation Lotte' Shin Yu-yeol appointed as first registered executive... Lotte Bio internal director

Shin Yu-yeol, Executive Director and eldest son of Shin Dong-bin, Chairman of Lotte, has been appointed as an inside director of Lotte Biologics. This is the first time Shin has become a registered executive at a Korean Lotte Group affiliate.

According to the pharmaceutical and bio industry on the 5th, Lotte Biologics held a board meeting earlier this month and appointed Shin as an inside director.

Shin Yu-yeol, Head of Future Growth Office at Lotte Holdings.

Shin was promoted from Managing Director to Executive Director at the end of last year. It was one year after he was promoted to Managing Director of the Basic Materials Division at Lotte Chemical at the end of 2022. He concurrently serves as Head of Future Growth Office at Lotte Holdings and Head of Global Strategy Office at Lotte Biologics.

The inside directors of Lotte Biologics included Lee Won-jik, CEO of Lotte Biologics, and Ha Jong-su, Managing Director. Shin filled the vacancy created when existing inside directors such as Ha Jong-su moved to other affiliates in the personnel reshuffle at the end of last year.

Meanwhile, Seo Seung-wook, Managing Director of the New Growth Team in the Future Growth Office, where Shin also serves, was appointed as a non-standing director.