Lotte (conglomerate)
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Lotte Co., Ltd. is a South Korean-Japanese Jaebeol (conglomerate) and one of the largest food and shopping groups in South Korea and Japan. Lotte was established in June 1948, in Tokyo, by Japanese-educated, Korean businessman Shin Kyuk-Ho (신격호) – also known as Takeo Shigemitsu (重光武雄, Shigemitsu Takeo?). After the normalization of Japan–Korea relations in 1965, Lotte expanded into Korea with the establishment of Lotte Confectionary Co., Ltd in Seoul on April 3, 1967.
Lotte Group consists of over 60 business units employing 60,000 people engaged in such diverse industries as candy manufacturing, beverages, hotels, fast food, retail, financial services, heavy chemicals, electronics, IT, construction, publishing, and entertainment. Lotte's major operations are overseen by Shin Kyuk-Ho's family in South Korea and Japan, with additional businesses in China, Thailand, Indonesia, Vietnam, India, USA, Russia, Philippines, Pakistan and Poland (Lotte bought Poland's largest candy company Wedel from Kraft Foods in June 2010). Today, Lotte is the largest candy / chewing gum manufacturer in both South Korea and Japan, and is one of South Korea's largest conglomerates.
Management
Lotte Holdings Co., Ltd. – Lotte group's world headquarters – are located in Shinjuku, Tokyo. It is controlled by the founder Shin Kyuk-Ho's family.
- Lotte of Korea employs 56,369 with a revenue of 41 trillion won in 2008 and has 53 companies[1] in South Korea
- Lotte of Japan employs 3,600 with a revenue of 448 billion yen in 2006.
Lotte Group's total assets are approximately 50 billion USD (Lotte Korea $40 Billion, Lotte Japan $10 Billion).
Business
Lotte group's major businesses are food products, shopping, finance, construction, amusement parks, hotels, trade, oil and sports.
- Food Products: Lotte Confectionery, Lotte Chilsung, Lotte Samkang, Lotteria, E Wedel
- Shopping: Lotte Shopping,[2] Lotte Mart, Lotte Department Store, Lotte-Assi Plaza[3]
- Finance: Lotte Insurance, Lotte Card, Lotte Capital
- Housing: Lotte Castle High Rise Apartment Complex
- Amusement parks: Lotte Cinema, Lotte World in Seoul, one of the world's largest indoor theme parks.
- Hotels: Lotte Super Tower 123, skyscraper in Seoul, Korea, 2014 and Busan Lotte Towern skyscraper in Busan, Korea, 2013
- Trade: Lotte international[4]
- Oils: Honam,[5] KP Chemical[6]
Sports
Lotte also owns professional baseball teams
Lotte R&D Center
History
Lotte's first company was founded in June 1948 in Tokyo, Japan by a Korean businessman, Shin Kyuk-Ho (신격호, 辛格浩), also known by his Japanese name, Shigemitsu Takeo (重光 武雄) two years after graduating from Waseda Jitsugyo high School (早稲田実業学校). Originally called Lotte Co., Ltd, the company has grown from selling chewing gum to children in post-war Japan to becoming a major multinational corporation.
Name
The source of the company's name is neither Korean nor Japanese, but German. Shin was impressed with Johann Wolfgang von Goethe's The Sorrows of Young Werther (1774) and named his newly-founded company Lotte after the character Charlotte in the novel ("Charlotte" is also the name of a new brand of deluxe movie theatres run by Lotte). Lotte's current marketing slogan in Japan is お口の恋人ロッテ (o-kuchi no koibito Lotte), which is translated as "your palate's sweetheart, Lotte".
See also
References
External links
Chaebol (South Korean conglomerates)
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