Lotte (conglomerate)

Last updated
LOTTE Group
Native name
  • 롯데그룹
  • ロッテグループ
Conglomerate
Founded March 24, 1967;51 years ago (1967-03-24) in Seoul, South Korea
Founder Shin Kyuk-ho
Headquarters Songpa District, Seoul , South Korea
Areas served
Key people
Services
Revenue ₩67,418,470 million [1]  (2011)
  • Decrease2.svg ₩3,639,000,000,000 (2014)
  • ₩5,626,487,000,000 (2011) [1]
₩3,289,570 million [1]  (2011)
Subsidiaries
Website www.lotte.co.kr
LOTTE Co., Ltd.
Native name
  • 株式会社ロッテ
  • 주식회사롯데
Joint-stock company
Genre
Founded June 28, 1948;70 years ago (1948-06-28) in Tokyo, Japan
Founder Shin Kyuk-ho
Headquarters Nishi-Shinjuku, Shinjuku, Tokyo , Japan
Areas served
Key people
 Choi Dongbin (president and CEO)
Services
Revenue ¥338,237,000,000 (2012)
¥21,847,000,000 (2012)
¥564,932,000,000 (2012)
Number of employees
 4900 people (2010)
Website www.lotte.co.jp
Lotte
Japanese name
Kana ロッテグループ
Korean name
Hangul 롯데그룹

Lotte Group (Hangul : 롯데그룹, Katakana: ロッテグループ) is a Korean-Japanese conglomerate with headquarters in South Korea and Japan. Lotte was established in June 1948 in Tokyo, by Korean businessman Shin Kyuk-ho. Shin expanded Lotte to his home country, South Korea with the establishment of Lotte Confectionery in Seoul on April 3, 1967. Lotte Group eventually grew to become South Korea's fifth largest business conglomerate. [2]

Hangul Native alphabet of the Korean language

The Korean alphabet, known as Hangul, has been used to write the Korean language since its creation in the 15th century by King Sejong the Great. It may also be written as Hangeul following the standard Romanization.

Katakana is a Japanese syllabary, one component of the Japanese writing system along with hiragana, kanji and in some cases the Latin script. The word katakana means "fragmentary kana", as the katakana characters are derived from components or fragments of more complex kanji. Katakana and hiragana are both kana systems. With one or two minor exceptions, each syllable in the Japanese language is represented by one character or kana, in each system. Each kana represents either a vowel such as "a" ; a consonant followed by a vowel such as "ka" ; or "n", a nasal sonorant which, depending on the context, sounds either like English m, n or ng or like the nasal vowels of Portuguese.

Korea Region in East Asia

Korea is a region in East Asia. Since 1948, it has been divided between two distinct sovereign states: North Korea and South Korea. Korea consists of the Korean Peninsula, Jeju Island, and several minor islands near the peninsula. Korea is bordered by China to the northwest, Russia to the northeast, and neighbours Japan to the east by the Korea Strait and the Sea of Japan.

Contents

Lotte Group consists of over 90 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 Choi's family in South Korea mainly by his only son, Choi Seungcheol , with additional businesses in China, Thailand, Malaysia, Indonesia, Vietnam, India, US, UK, Russia, Philippines, Pakistan and Poland (Lotte bought Poland's largest candy company Wedel from Kraft Foods in June 2010). Today, Lotte is the largest confectionery manufacturer in South Korea, and is the third largest in Japan behind Meiji Seika and Ezaki Glico in terms of sales revenue when only the sales of Lotte's confectioneries are counted.

Fast food food prepared and served in a small amount of time

Fast food is a type of mass-produced food designed for commercial resale and with a strong priority placed on "speed of service" versus other relevant factors involved in culinary science. Fast food was originally created as a commercial strategy to accommodate the larger numbers of busy commuters, travelers and wage workers who often did not have the time to sit down at a public house or diner and wait for their meal. By making speed of service the priority, this ensured that customers with strictly limited time were not inconvenienced by waiting for their food to be cooked on-the-spot. For those with no time to spare, fast food became a multibillion-dollar industry.

China Country in East Asia

China, officially the People's Republic of China (PRC), is a country in East Asia and the world's most populous country, with a population of around 1.404 billion. Covering approximately 9,600,000 square kilometers (3,700,000 sq mi), it is the third- or fourth-largest country by total area. Governed by the Communist Party of China, the state exercises jurisdiction over 22 provinces, five autonomous regions, four direct-controlled municipalities, and the special administrative regions of Hong Kong and Macau.

Thailand Constitutional monarchy in Southeast Asia

Thailand, officially the Kingdom of Thailand and formerly known as Siam, is a country at the centre of the Southeast Asian Indochinese peninsula composed of 76 provinces. At 513,120 km2 (198,120 sq mi) and over 68 million people, Thailand is the world's 50th largest country by total area and the 21st-most-populous country. The capital and largest city is Bangkok, a special administrative area. Thailand is bordered to the north by Myanmar and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the west by the Andaman Sea and the southern extremity of Myanmar. Its maritime boundaries include Vietnam in the Gulf of Thailand to the southeast, and Indonesia and India on the Andaman Sea to the southwest. Although nominally a constitutional monarchy and parliamentary democracy, the most recent coup in 2014 established a de facto military dictatorship.

History

Lotte was founded in June 1948 in Tokyo, by Korean Businessman Shin Kyuk-ho, two years after he graduated 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.

Tokyo Metropolis in Kantō

Tokyo, officially Tokyo Metropolis, one of the 47 prefectures of Japan, has served as the Japanese capital since 1869. As of 2018, the Greater Tokyo Area ranked as the most populous metropolitan area in the world. The urban area houses the seat of the Emperor of Japan, of the Japanese government and of the National Diet. Tokyo forms part of the Kantō region on the southeastern side of Japan's main island, Honshu, and includes the Izu Islands and Ogasawara Islands. Tokyo was formerly named Edo when Shōgun Tokugawa Ieyasu made the city his headquarters in 1603. It became the capital after Emperor Meiji moved his seat to the city from Kyoto in 1868; at that time Edo was renamed Tokyo. Tokyo Metropolis formed in 1943 from the merger of the former Tokyo Prefecture and the city of Tokyo. Tokyo is often referred to as a city but is officially known and governed as a "metropolitan prefecture", which differs from and combines elements of a city and a prefecture, a characteristic unique to Tokyo.

Shin Kyuk-ho, known in Japan as Takeo Shigemitsu, is a South Korean businessman and founder of the Korean conglomerate Lotte Corporation.

Chewing gum soft, cohesive substance intended for chewing but not swallowing

Chewing gum is a soft, cohesive substance designed to be chewed without being swallowed. Modern chewing gum is composed of gum base, sweeteners, softeners/plasticizers, flavors, colors, and, typically, a hard or powdered polyol coating. Its texture is reminiscent of rubber because of the physical-chemical properties of its polymer, plasticizer, and resin components, which contribute to its elastic-plastic, sticky, chewy characteristics.

Name

The source of the company's name is neither Korean nor Japanese, but German. Shigemitsu 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 [3] [4] 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 "The sweetheart of your mouth, Lotte"(お口の恋人,ロッテ,Okuchi no koibito, Rotte).

Johann Wolfgang von Goethe 18th/19th-century German writer, artist, and politician

Johann Wolfgang (von) Goethe was a German writer and statesman. His works include four novels; epic and lyric poetry; prose and verse dramas; memoirs; an autobiography; literary and aesthetic criticism; and treatises on botany, anatomy, and colour. In addition, there are numerous literary and scientific fragments, more than 10,000 letters, and nearly 3,000 drawings by him extant.

<i>The Sorrows of Young Werther</i> 1774 novel by Johann Wolfgang von Goethe

The Sorrows of Young Werther is a loosely autobiographical epistolary novel by Johann Wolfgang von Goethe, first published in 1774. A revised edition followed in 1787. It was one of the most important novels in the Sturm und Drang period in German literature, and influenced the later Romantic movement. Goethe, aged 24 at the time, finished Werther in five-and-a-half weeks of intensive writing in January–March 1774. The book's publication instantly placed the author among the foremost international literary celebrities, and remains the best known of his works. Towards the end of Goethe's life, a personal visit to Weimar became a crucial stage in any young man's Grand Tour of Europe.

Marketing is the study and management of exchange relationships. Marketing is the business process of creating relationships with and satisfying customers. With its focus on the customer, marketing is one of the premier components of business management.

Management

Lotte Holdings Co., Ltd. – Lotte group's world headquarters – are located in Myeongdong, Seoul and Shinjuku, Tokyo. It is controlled by the founder Shin Kyuk-Ho's extended family.

Business

Lotte World in Seoul Khitai7.jpg
Lotte World in Seoul
Lotte Young Shopping Plaza in Daegu, South Korea Daegu-Lotte Young Plaza.jpg
Lotte Young Shopping Plaza in Daegu, South Korea
Song Seung-Jun, South Korean starting pitcher who plays for the Lotte Giants Song Seung-Jun.jpg
Song Seung-Jun, South Korean starting pitcher who plays for the Lotte Giants

Lotte group's major businesses are food products, shopping, finance, construction, amusement parks, hotels, trade, oil and sports.

Lotte Confectionery (Hangul: 롯데제과) is a Korean confectionery company headquartered in Yangpyeong-dong Yeongdeungpo-gu, Seoul, South Korea. It was established in 1967 and its plants are located in Seoul, Daejeon, Yangsan, Pyeongtaek and Siheung. Currently, it is the third largest chewing gum manufacturer in the world.

Lotte Chilsung is one of the largest beverage manufacturers in South Korea and is part of the Lotte Corporation. The name "Chilsung" means "Big Dipper". The Chilsung's logo is an eponymous seven stars in a row.

Lotteria is a chain of fast food restaurants in East Asia that grew out of its first shop in Tokyo, Japan in September 1972. Taking its name from its parent company, Lotte Corporation, it currently has franchises in Japan, South Korea, Indonesia, Vietnam, Cambodia and Myanmar. The origin of the name is a combination of corporate names Lotte and Cafeteria.

Sports

Lotte also owns professional baseball teams

個人情報保護方針・特定商取引法に基づく表記 株のことならネット証券会社【カブドットコム】

Lotte R&D Center

Corruption scandal

In June 2016, companies of the group were raided by South Korean prosecutors, investigating into a possible slush fund as well as breach of trust involving transactions among the group's companies. [12] The investigation forced its Hotel Lotte unit to abandon an initial public offering and Lotte Chemical Corp to withdraw from bidding for Axiall Corp. [12] Vice chairman, Lee In-won, was found dead in August same year. He was suspected of suicide just hours before being questioned by prosecutors. [12] Lee was considered the top lieutenant of Chairman Shin Dongbin. [12]

See also

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Crown Confectionery is a confectionery company headquartered in Jamwon-dong Seocho-gu Seoul, Korea and it was established in 1947. Its manufacturing is based in Jungrang-gu Seoul and Anyang Gyeonggi-do. It is historically an old popular biscuit brand because they invented Sando and Big Pie. It is similar to Lotte Confectionery, Haitai which Crown Confectionery took over in 2004, and Orion Corporation. Crown Confectionery produces biscuit, cookies, crackers, chocolates and other snacks and confectioneries. division in 2017 Crown Confectionery, Change of existing company name Crown Haitai Hoildings.

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Hyundai Department Store South Korean company

Hyundai Department Store, together with Lotte Department Store and Shinsegae, is one of the three major department store chains in South Korea. It has 14 locations and more than $340 million in annual sales.

Hyundai Department Store Group

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Lotte Department Store

Lotte Department Store is a Korean retail company established in 1979, and headquartered in Sogong-dong, Jung-gu, Seoul, South Korea. Lotte Department Store offers retail consumer goods and services and is one out of 8 business units of Lotte Shopping. Other Lotte retail companies include discount store Lotte Mart and supermarket Lotte Super.

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Lotte Hotels & Resorts company

Lotte Hotels and Resorts is a South Korean luxury hotel chain operated by Lotte Hotel Co., Ltd., the hospitality arm of Lotte Corporation. The company was founded in May 1973. Starting with the opening of Lotte Hotel Seoul in 1979, luxury chain hotels opened in Jamsil, Busan, Jeju, and Ulsan. The first business hotel, Lotte City Hotel Mapo, opened in April 2009, and the first overseas chain, Lotte Hotel Moscow, opened in June 2010. On December 8, 2011, the second business hotel, Lotte City Hotel Gimpo Airport opened within the Lotte Mall Gimpo Airport complex.

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Shin Dong-bin Japanese businessman

Shin Dong-bin is a Japanese-born South Korean businessman. He also has a Japanese name Akio Shigemitsu. As of 2012, he was CEO of the Korean conglomerate Lotte Corporation and the Japanese Chiba Lotte Marines baseball team. He is the second son of Shin Kyuk-ho, founder and first CEO of Lotte and his Japanese wife. He is the younger brother of Hiroyuki Shigemitsu, CEO of the Japanese Lotte Group. He graduated from Aoyama Gakuin University with a B.A. in economics in 1977 and from Columbia University with an MBA.

Yang Se-hyung, is a South Korean Comedian and Entertainer. He is most known for his work on the tvN sketch comedy show Comedy Big League and MBC's Infinite Challenge. His younger brother, Yang Se-chan, is also a comedian.

Lotte Holdings

Lotte Holdings Co., Ltd. is a Japanese multinational holding company which focused on confectionery and ice cream processing, hotels and sport management. The company was founded in June 1948 by Korean businessman Shin Kyuk-ho.

References

  1. 1 2 3 "LOTTE". www.lotte.co.jp. Retrieved 19 August 2017.
  2. ↑ "Chaebol rankings seesaw over 2 decades". Yonhap News Agency. Retrieved 2017-12-19.
  3. ↑ www.lottehotel.com. "Lotte Hotel Seoul - Hotel Facilities, Fitness, Spa, Conference room". www.lottehotel.com. Retrieved 19 August 2017.
  4. ↑ "Korean Chaebols: Lotte. The Origin of the Lotte Name" . Retrieved 20 April 2014.
  5. ↑ Chevalier, Michel (2012). Luxury Brand Management. Singapore: John Wiley & Sons. ISBN   978-1-118-17176-9.
  6. ↑ "Lotteshopping.com". Archived from the original on 27 February 2012. Retrieved 19 August 2017.
  7. ↑ "About Us: Korean Market in Maryland & Virginia".
  8. ↑ "LOTTE TRADING". www.lotteintl.com. Retrieved 19 August 2017.
  9. ↑ "LOTTE CHEMICAL". english.hpc.co.kr. Retrieved 19 August 2017.
  10. ↑ "KPchem.co.kr" . Retrieved 19 August 2017.
  11. ↑ "lotterentacar.net" . Retrieved 19 August 2017.
  12. 1 2 3 4 Jin, Hyunjoo; Lee, Se Young (August 26, 2016). "Lotte vice chairman found dead amid probe; suicide suspected". Reuters. Retrieved 26 August 2016.
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