"Strengthening Responsible Management in Distribution Business"… Shin Dong-bin Returns as Inside Director of Lotte Shopping

Resigned in March 2020 ... Returns After Five Years

Shin Dong-bin, Chairman of Lotte Group, will return as a registered director of Lotte Shopping after five years.

According to the Financial Supervisory Service's electronic disclosure system on the 7th, Lotte Shopping will hold its regular shareholders' meeting on the 24th on the 6th floor of Lotte Mart Max Yeongdeungpo Branch in Seoul to discuss the agenda of appointing Chairman Shin as an inside director. Chairman Shin resigned ahead of the expiration of his term as an inside director of Lotte Shopping in March 2020.

Chairman Shin currently serves as an inside director of four companies: Lotte Holdings, Lotte Chemical, Lotte Wellfood, and Lotte Chilsung Beverage. Although he decided not to renew his inside director position at Lotte Chilsung at next month's shareholders' meeting, he is expected to return as a registered director at Lotte Shopping.

Regarding this, a Lotte official explained, "Since the distribution sector is a key business of the group, we intend to strengthen responsible management along with the chemical and food sectors."

Accordingly, Chairman Shin is expected to serve as an inside director of four companies: Lotte Shopping, Lotte Wellfood, Lotte Chemical, and Lotte Holdings, instead of Lotte Chilsung.