Why Scottish salmon’s rebrand may end up harming the integrity of a top export and hurting producers 
Biden Hands China Chip Tariff Probe to Trump as Trade War Heats Up Over Semiconductor Dominance 
Honda and Nissan Push 2026 Merger as Ex-CEO Ghosn Criticizes Bold Move 
BC.GAME Enters Online Poker Market with BCPoker Launch Featuring Three Classic Variants 
China Approves New VAT Law Effective 2026 to Boost Key Sectors and Economic Recovery 
Elon Musk Tells Users to ‘Stop Using Hashtags’ on X as Platform Moves Away From Trends 
Microsoft Steps Back from OpenAI Dependency in 365 Copilot with New AI Models Integration Strategy 
Are we becoming too close to AI? 
Honda and Nissan Ready to Kick Off Integration Talks to Counter Tesla and Chinese Auto Giants 
Musk’s X Raises Premium-Plus Plan to $22 With Creator Payouts and AI Features in Focus 
2025 Housing Market Outlook Brings Glimmers of Optimism but Affordability Concerns Still Loom Large 
Italy's Meloni Warns EU of Russia’s Hidden Tactics Undermining Borders and Democracy 
Gold Inches Up as Rising Dollar and Fed’s Rate Policy Pressure Investors 
Trump Teases TikTok’s Fate in the US as ByteDance Faces a Critical Supreme Court Battle 
The Crypto Market is Thrown into Chaos as XRP Plummets 12% & $1 Trillion is Wiped Out 
OpenAI Heats Up AI Race with o3 Models Aiming to Outperform Google’s Gemini in Complex Problem Solving 
Lotte Group will look for new growth engines, and its chairman Shin Dong Bin said they will especially focus on mobility and the healthcare sector for this. The chief said they are making this move as the company is facing an unfavorable business environment following the credit downgrades of its affiliates.
Lotte Group’s chairman shared this plan with the public during the 2023 Second Half Value Creation Meeting (VCM) which he personally hosted at the Lotte World Tower in Seoul on Tuesday, July 18. He organized this event to talk about the company’s management as well as their medium to long-term strategies.
Shin also mentioned the Lotte Group’s goal to find new growth engines with a focus on mobility and health, and wellness. According to The Korea Times, around 80 executives attended the VCM event led by Chairman Shin. The CEO of Lotte Holdings, Lee Dong Woo, was also there, along with heads of different business units, subsidiary representatives, and executives of Lotte Holdings.
With the company’s plans to expand its health and wellness unit, officials have naturally tackled some issues in South Korea, including the aging population and low birth rate, to assess what Lotte can do. They also touched on the subject of digital transformation, changing corporate management environments, and sustainable growth.
As part of the Lotte Group’s move to facilitate new growth engines in the area of health and wellness, its Contract Development Manufacturing Organization (CDMO) unit, Lotte Biologics, will expand its business to be included in the world’s top 10 by 2030.
To do this, it will build three mega plants in the country within seven years with a target total production capacity of 360,000 liters of antibody drugs. Lotte will also set up small-scale and finished pharma facilities to produce clinical materials.
“Ignoring the rapidly changing business environment and stubbornly sticking to past successes won’t work any longer,” The Korea Economic Daily quoted Shin Dong Bin as saying. “We must create our own ways of work that align with the current environment through flexible thinking. You cannot survive unless you try something new.”
Photo by: Lotte Newsroom
