Shin Dongbin Pays Respects at Wake of Lotte Foundation Chair Shin Youngja... Returns Home During Overseas Trip (Comprehensive)

Accompanied by eldest son, Executive Vice President Shin Yuyeol
Stayed at the wake for about 10 minutes
Seen off by chief mourner, Chair Jang Hyesun

Shin Dongbin, chairman of Lotte Group, visited the funeral hall for his elder sister, Shin Youngja, chair of the Lotte Foundation, together with his eldest son, Shin Yuyeol, Head of the Future Growth Office at Lotte Holdings and co-CEO (Executive Vice President) of Lotte Biologics, to pay tribute to the deceased and offer condolences to the bereaved family.

Shin Dongbin, chairman of Lotte Group (front row, right), is entering the funeral hall at Sinchon Severance Hospital in Seoul where the wake for Shin Youngja, chairwoman of the Lotte Foundation, is being held. In the back row, far left is Shin Yuyeol, Head of the Future Growth Office at Lotte Corporation and co-CEO of Lotte Biologics.

At around 10:15 p.m. on the 22nd, Chairman Shin arrived at the funeral hall at Severance Hospital in Sinchon, Seoul, where Chair Shin's wake was being held, together with Executive Vice President Shin. It is reported that, while on an overseas business trip, he received news of her passing and urgently changed his schedule to visit the wake. Chairman Shin and Executive Vice President Shin stayed at the wake for about 10 minutes, greeting and comforting the bereaved family. After they finished paying their respects and left the funeral hall, the deceased's eldest daughter, Jang Hyesun, chair of the Lotte Foundation, came out to the entrance to see off Chairman Shin, Executive Vice President Shin, and their party.

On this second day of the funeral for Chair Shin, who is known in the domestic retail industry as the "godmother," former and current Lotte CEOs, as well as figures from politics and business circles, also visited the wake. Inside the funeral hall, the space was filled with condolence wreaths sent in the names of Chairman Shin, Executive Vice President Shin, and the heads of Lotte affiliates. From the political community, People Power Party lawmaker Na Kyungwon and People Power Party Secretary-General Jung Heeyong sent condolence banners to commemorate the deceased. Lawmaker Na also personally visited the wake that afternoon. She said, "The deceased had always been deeply interested in disability rights during her lifetime, and we once worked together on matters related to welfare for people with disabilities," adding, "I shared stories with the family in remembrance of the deceased."

Shin Dongbin, chairman of Lotte Group (second from the right), is leaving after paying his respects at the funeral hall set up for Shin Youngja, chairwoman of the Lotte Foundation, at Seoul Sinchon Severance Hospital.

Also visiting the wake that day were senior figures of Lotte Group, including Lee Dongho, former CEO of Lotte Hotel Busan, as well as Park James, co-CEO of Lotte Biologics, Lee Wontaek, CEO of Lotte GRS, and Kwon Osang, CEO of Lotte World. The remaining group CEOs are reported to have paid their respects the previous day.

Chair Shin, the eldest daughter of the late Shin Kyukho, founder and honorary chairman of Lotte, passed away the previous day at the age of 85. She is regarded as a key figure who, together with her father, led Lotte's success story. Since joining Hotel Lotte in the 1970s, she devoted herself to the retail business, and in 2008 she was promoted to president of Lotte Shopping, where she led the department store and duty-free businesses. In particular, she played a pioneering role by introducing the first duty-free shop in Korea, and in recognition of these achievements she was called the "godmother" of the retail industry.

From 2009, she distanced herself from group management and became the first chair of the Lotte Samdong Welfare Foundation. In 2012, she served as the second and third chair of the Lotte Scholarship Foundation and the Lotte Welfare Foundation, respectively, focusing on social contribution activities. She devoted particular attention to nurturing young talent, supporting underprivileged groups, and helping the Ulsan region, the hometown of Honorary Chairman Shin. Over about 40 years, the Lotte Foundation has provided support totaling 250 billion won to approximately 520,000 people.

Chair Shin's funeral will be held as a Lotte Foundation funeral until the 23rd, and she will be laid to rest at Hannam Park Cemetery in Gwangju, Gyeonggi Province.