Lee Dong-woo, CEO of Lotte Holdings, “Researching on new bio-electric vehicle battery business”

Lee Dong-woo, CEO of Lotte Holdings, said on the 26th, “We are researching new business models such as the bio business, smart mobility, and electric vehicle battery business.”

At the 54th regular shareholders’ meeting held that day, CEO Lee said, “I will create a turning point to take a new leap forward by mobilizing all the capabilities of the group this year.”

Such remarks are read as re-expressing their willingness to do business in the areas that Lotte Group is seeking to advance into recently, such as bio business, smart mobility, and electric vehicle batteries.

CEO Lee said, “We will thoroughly check the strategic significance and synergy of each business and upgrade it into a sustainable business portfolio. In the process of implementing this strategy, we will implement it under a mid- to long-term strategy rather than focusing on short-term performance,” he said.

“We will expand investment in Lotte brand and R&D so that our corporate value and potential can be properly evaluated in the market,” he said. “We will communicate with young people to improve Lotte’s image.”

Meanwhile, Chu Kwang-sik, head of the financial innovation department of Lotte Holdings, was elected as the executive director at the shareholders’ meeting, and Kim Chang-soo, a professor of business administration at Chung-Ang University, was selected as an outside director and audit committee member.