Rio Tinto Raises 2025 Copper Output Outlook as Oyu Tolgoi Expansion Accelerates 
Dollar Weakens Ahead of Expected Federal Reserve Rate Cut 
Tesla Faces 19% Drop in UK Registrations as Competition Intensifies 
Waymo Issues Recall After Reports of Self-Driving Cars Illegally Passing School Buses in Texas 
European Stocks Rise as Markets Await Key U.S. Inflation Data 
Dollar Slides to Five-Week Low as Asian Stocks Struggle and Markets Bet on Fed Rate Cut 
Fed Meeting Sparks Division as Markets Brace for Possible Rate Cut 
OpenAI Moves to Acquire Neptune as It Expands AI Training Capabilities 
Airline Loyalty Programs Face New Uncertainty as Visa–Mastercard Fee Settlement Evolves 
GM Issues Recall for 2026 Chevrolet Silverado Trucks Over Missing Owner Manuals 
Austria’s AA Credit Rating Affirmed as Fitch Highlights Stable Outlook 
China Urged to Prioritize Economy Over Territorial Ambitions, Says Taiwan’s President Lai 
Airbus Faces Pressure After November Deliveries Dip Amid Industrial Setback 
Spain’s Industrial Output Records Steady Growth in October Amid Revised September Figures 
Citi Sets Bullish 2026 Target for STOXX 600 as Fiscal Support and Monetary Easing Boost Outlook 
Germany’s Economic Recovery Slows as Trade Tensions and Rising Costs Weigh on Growth 
Spirit Airlines Reverses Pilot Furlough Plans Amid Updated Staffing Outlook 
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
