Resignation Announced on Internal Bulletin Board on November 13
Jo Jwajin, CEO of Lotte Card, will step down on December 1, taking responsibility for the personal information leak affecting 2.97 million customers. Lotte Card will convene a board meeting on November 21 to begin the process of appointing a new CEO.
Jo Jwa-jin, CEO of Lotte Card, is offering a public apology for the hacking incident and customer information leak at Lotte Card on the 18th at Booyoung Taepyeong Building in Jung-gu, Seoul. 2025.9.18 Photo by Kang Jin-hyung
According to the card industry on November 13, CEO Jo posted a message titled "I Will Take Final Responsibility as CEO" on the company's internal bulletin board, announcing his intention to resign.
Lotte Card will hold an extraordinary board meeting on November 21 to officially start the process of selecting a new CEO.
Previously, on October 31, five executives, including four division heads, resigned. With CEO Jo also expressing his intention to step down, the company has made significant personnel changes following the cyber incident.
In early October, an extraordinary shareholders' meeting was held, and three out of five outside directors were newly appointed. All newly appointed outside directors are members of the Executive Candidate Recommendation Committee. The committee consists of seven members: Vice Chairman Kim Kwangil and Executive Vice President Lee Jinha of MBK Partners, Kim Wonjae, CFO of Lotte Shopping, and four outside directors.
To strengthen security, Lotte Card has implemented not only personnel changes but also organizational restructuring. The existing Information Security Office has been elevated to the Information Security Center, which now reports directly to the CEO.
At the board meeting on October 31, four out of seven division heads, including two executive vice presidents, left Lotte Card. The company established the Personal Customer Business Division, which oversees three business units targeting individual customers. As a result, the previous structure of seven divisions was reorganized into one division and six business units.
Lotte Card has integrated support organizations to improve efficiency and strengthen its control tower function, ensuring consistent pursuit of company-wide goals. The company also established the Employee Relations (ER) Office, reporting directly to the CEO, to focus on building a strong corporate culture and advancing labor-management relations.
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