Lotte (conglomerate)
Encyclopedia
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
– also known as . 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.
. It is controlled by the founder Shin Kyuk-Ho
's family.
Lotte Group's total assets are approximately 50 billion USD (Lotte Korea $40 Billion, Lotte Japan $10 Billion).
teams
, Japan
by a Korean businessman, Shin Kyuk-Ho
, also known by his Japanese name, Shigemitsu Takeo two years after graduating from Waseda Jitsugyo high School . 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
.
'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 (o-kuchi no koibito Lotte), which is translated as "your palate's sweetheart, Lotte".
Conglomerate (company)
A conglomerate is a combination of two or more corporations engaged in entirely different businesses that fall under one corporate structure , usually involving a parent company and several subsidiaries. Often, a conglomerate is a multi-industry company...
) and one of the largest food and shopping groups in South Korea
South Korea
The Republic of Korea , , is a sovereign state in East Asia, located on the southern portion of the Korean Peninsula. It is neighbored by the People's Republic of China to the west, Japan to the east, North Korea to the north, and the East China Sea and Republic of China to the south...
and Japan
Japan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
. Lotte was established in June 1948, in Tokyo
Tokyo
, ; officially , is one of the 47 prefectures of Japan. Tokyo is the capital of Japan, the center of the Greater Tokyo Area, and the largest metropolitan area of Japan. It is the seat of the Japanese government and the Imperial Palace, and the home of the Japanese Imperial Family...
, by Japanese-educated, Korean businessman Shin Kyuk-Ho
Shin Kyuk-Ho
Shin Kyuk-Ho is the founder of Lotte group. He was born in Ulsan, South Korea, 1922 and founded Lotte in 1948, which grew from selling chewing gum to children in post-war Japan to becoming a major multinational corporation with overseas branches in dozens of countries and products shipped...
– also known as . After the normalization of Japan–Korea relations in 1965, Lotte expanded into Korea with the establishment of Lotte Confectionary Co., Ltd
Lotte Confectionery
Lotte Confectionery is a South Korean company headquartered in Yangpyeong-dong Yeongdeungpo-gu Seoul, Korea. It was established in 1967 and its plants are located in Seoul, Daejeon, Yangsan, Pyeongtaek and Siheung. It manufactures and sells more than 200 products to more than 70 countries. It is...
in Seoul
Seoul
Seoul , officially the Seoul Special City, is the capital and largest metropolis of South Korea. A megacity with a population of over 10 million, it is the largest city proper in the OECD developed world...
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
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
, Thailand
Thailand
Thailand , officially the Kingdom of Thailand , formerly known as Siam , is a country located at the centre of the Indochina peninsula and Southeast Asia. It is bordered to the north by Burma and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the...
, Indonesia
Indonesia
Indonesia , officially the Republic of Indonesia , is a country in Southeast Asia and Oceania. Indonesia is an archipelago comprising approximately 13,000 islands. It has 33 provinces with over 238 million people, and is the world's fourth most populous country. Indonesia is a republic, with an...
, Vietnam
Vietnam
Vietnam – sometimes spelled Viet Nam , officially the Socialist Republic of Vietnam – is the easternmost country on the Indochina Peninsula in Southeast Asia. It is bordered by China to the north, Laos to the northwest, Cambodia to the southwest, and the South China Sea –...
, India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
, USA, Russia
Russia
Russia or , officially known as both Russia and the Russian Federation , is a country in northern Eurasia. It is a federal semi-presidential republic, comprising 83 federal subjects...
, Philippines
Philippines
The Philippines , officially known as the Republic of the Philippines , is a country in Southeast Asia in the western Pacific Ocean. To its north across the Luzon Strait lies Taiwan. West across the South China Sea sits Vietnam...
, Pakistan
Pakistan
Pakistan , officially the Islamic Republic of Pakistan is a sovereign state in South Asia. It has a coastline along the Arabian Sea and the Gulf of Oman in the south and is bordered by Afghanistan and Iran in the west, India in the east and China in the far northeast. In the north, Tajikistan...
and Poland
Poland
Poland , officially the Republic of Poland , is a country in Central Europe bordered by Germany to the west; the Czech Republic and Slovakia to the south; Ukraine, Belarus and Lithuania to the east; and the Baltic Sea and Kaliningrad Oblast, a Russian exclave, to the north...
(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, TokyoTokyo
, ; officially , is one of the 47 prefectures of Japan. Tokyo is the capital of Japan, the center of the Greater Tokyo Area, and the largest metropolitan area of Japan. It is the seat of the Japanese government and the Imperial Palace, and the home of the Japanese Imperial Family...
. It is controlled by the founder Shin Kyuk-Ho
Shin Kyuk-Ho
Shin Kyuk-Ho is the founder of Lotte group. He was born in Ulsan, South Korea, 1922 and founded Lotte in 1948, which grew from selling chewing gum to children in post-war Japan to becoming a major multinational corporation with overseas branches in dozens of countries and products shipped...
's family.
- Lotte of Korea employs 56,369 with a revenue of 41 trillion wonSouth Korean wonThe won is the currency of South Korea. A single won is divided into 100 jeon, the monetary subunit. The jeon is no longer used for everyday transactions, and appears only in foreign exchange rates...
in 2008 and has 53 companies in South KoreaSouth KoreaThe Republic of Korea , , is a sovereign state in East Asia, located on the southern portion of the Korean Peninsula. It is neighbored by the People's Republic of China to the west, Japan to the east, North Korea to the north, and the East China Sea and Republic of China to the south... - 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 ConfectioneryLotte ConfectioneryLotte Confectionery is a South Korean company headquartered in Yangpyeong-dong Yeongdeungpo-gu Seoul, Korea. It was established in 1967 and its plants are located in Seoul, Daejeon, Yangsan, Pyeongtaek and Siheung. It manufactures and sells more than 200 products to more than 70 countries. It is...
, Lotte ChilsungLotte ChilsungLotte Chilsung is a South Korean manufacturer of food products, part of the Lotte Group.-History:The company began with the introduction of Chilsung Cider, a lemon-lime soft drink. Lotte Chilsung became one of the largest beverage producers in the young South Korean domestic market. In 1966, Lotte...
, Lotte Samkang, LotteriaLotteriaLotteria is a chain of fast-food restaurants similar to McDonald's headquartered in Japan, and now with branches in South Korea, China, Taiwan, and Vietnam. It takes its name from its parent company, Lotte. Lotteria opened its first shop in Nihonbashi, Tokyo, Japan in September 1972.-History:The...
, E Wedel - Shopping: Lotte Shopping, Lotte MartLotte MartLotte Mart is a hypermarket in Asia that sells a variety of groceries, clothing, toys, electronics, and other goods. Lotte Mart is a division of the Lotte Co., Ltd. which is one of the most prevalent food and shopping services in South Korea and Japan. Lotte Mart, part of the Korean conglomerate...
, Lotte Department StoreLotte Department StoreLotte Department Store is a Korean retail company established in 1979, and headquartered in Sogong-dong, Jung-gu, Seoul, Korea. Lotte Department Store offers retail consumer goods and services and is one out of 8 business units of Lotte Shopping...
, Lotte-Assi Plaza - Finance: Lotte Insurance, Lotte CardLotte CardLotte Card Co, Ltd. is one of Korea's major credit card companies, having over a million customers. Headquartered in Seoul, Korea, the Lotte Card has a partnership with Lotte Capital, and is sponsored by Lotte. Lotte Card was established in 2003 as a technical and business company licenced by...
, Lotte CapitalLotte CapitalLotte Capital Co, Ltd. is a Korean financial company, established in 1995 with headquarters in Seoul, Korea. It was the financial services unit of Lotte. Its divisions are responsible for over 50% of Lotte Department Store revenue.... - Housing: Lotte Castle High Rise Apartment Complex
- Amusement parks: Lotte Cinema, Lotte WorldLotte WorldLotte World is a major recreation complex in Seoul, South Korea. It consists of the world's largest indoor theme park which is open all year around, an outdoor amusement park called "Magic Island", an artificial island inside a lake linked by monorail, shopping malls, a luxury hotel, a Korean folk...
in Seoul, one of the world's largest indoor theme parks. - Hotels: Lotte Super Tower 123Lotte Super Tower 123Lotte Super Tower 123 is a 123-floor supertall skyscraper currently being erected in Lotte World 2, Seoul, South Korea. It is located next to the existing Lotte World complex which opened back in 1989. Ground was broken in 2005 but due to nearby airport's height restrictions, further construction...
, skyscraper in SeoulSeoulSeoul , officially the Seoul Special City, is the capital and largest metropolis of South Korea. A megacity with a population of over 10 million, it is the largest city proper in the OECD developed world...
, Korea, 2014 and Busan Lotte Towern skyscraper in BusanBusanBusan , formerly spelled Pusan is South Korea's second largest metropolis after Seoul, with a population of around 3.6 million. The Metropolitan area population is 4,399,515 as of 2010. It is the largest port city in South Korea and the fifth largest port in the world...
, Korea, 2013 - Trade: Lotte international
- Oils: Honam, KP Chemical
Sports
Lotte also owns professional baseballBaseball
Baseball is a bat-and-ball sport played between two teams of nine players each. The aim is to score runs by hitting a thrown ball with a bat and touching a series of four bases arranged at the corners of a ninety-foot diamond...
teams
- Chiba Lotte MarinesChiba Lotte MarinesThe are a professional baseball team in Japan's Pacific League based in Chiba City, Chiba Prefecture, in the Kantō region, and owned by the Lotte conglomerate.-History:...
in Japan (1971–present) - Lotte GiantsLotte GiantsThe Lotte Giants are a professional baseball team based in Busan, Korea, and one of the original franchises of the Korea Baseball Organization league. The Lotte Giants are owned by the Japanese-South Korean Lotte conglomerate....
in BusanBusanBusan , formerly spelled Pusan is South Korea's second largest metropolis after Seoul, with a population of around 3.6 million. The Metropolitan area population is 4,399,515 as of 2010. It is the largest port city in South Korea and the fifth largest port in the world...
, South Korea (1982–present).
Lotte R&D Center
- Korea R&D Center : 23,4-ga, Yangpyeong-dong, Yeongdeungpo-gu, SeoulSeoulSeoul , officially the Seoul Special City, is the capital and largest metropolis of South Korea. A megacity with a population of over 10 million, it is the largest city proper in the OECD developed world...
, KoreaKoreaKorea ) is an East Asian geographic region that is currently divided into two separate sovereign states — North Korea and South Korea. Located on the Korean Peninsula, Korea is bordered by the People's Republic of China to the northwest, Russia to the northeast, and is separated from Japan to the... - Japan R&D Center : SaitamaSaitama, Saitama' is the capital and the most populous city of Saitama Prefecture in Japan, situated in the south-east of the prefecture. Its area incorporates the former cities of Urawa, Ōmiya, Yono and Iwatsuki. It is a city designated by government ordinance...
, JapanJapanJapan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
History
Lotte's first company was founded in June 1948 in TokyoTokyo
, ; officially , is one of the 47 prefectures of Japan. Tokyo is the capital of Japan, the center of the Greater Tokyo Area, and the largest metropolitan area of Japan. It is the seat of the Japanese government and the Imperial Palace, and the home of the Japanese Imperial Family...
, Japan
Japan
Japan is an island nation in East Asia. Located in the Pacific Ocean, it lies to the east of the Sea of Japan, China, North Korea, South Korea and Russia, stretching from the Sea of Okhotsk in the north to the East China Sea and Taiwan in the south...
by a Korean businessman, Shin Kyuk-Ho
Shin Kyuk-Ho
Shin Kyuk-Ho is the founder of Lotte group. He was born in Ulsan, South Korea, 1922 and founded Lotte in 1948, which grew from selling chewing gum to children in post-war Japan to becoming a major multinational corporation with overseas branches in dozens of countries and products shipped...
, also known by his Japanese name, Shigemitsu Takeo two years after graduating from Waseda Jitsugyo high School . Originally called Lotte Co., Ltd, the company has grown from selling chewing gum
Chewing gum
Chewing gum is a type of gum traditionally made of chicle, a natural latex product, or synthetic rubber known as polyisobutylene. For economical and quality reasons, many modern chewing gums use rubber instead of chicle...
to children in post-war Japan to becoming a major multinational corporation
Multinational corporation
A multi national corporation or enterprise , is a corporation or an enterprise that manages production or delivers services in more than one country. It can also be referred to as an international corporation...
.
Name
The source of the company's name is neither Korean nor Japanese, but German. Shin was impressed with Johann Wolfgang von GoetheJohann Wolfgang von Goethe
Johann Wolfgang von Goethe was a German writer, pictorial artist, biologist, theoretical physicist, and polymath. He is considered the supreme genius of modern German literature. His works span the fields of poetry, drama, prose, philosophy, and science. His Faust has been called the greatest long...
's The Sorrows of Young Werther
The Sorrows of Young Werther
The Sorrows of Young Werther is an epistolary and loosely autobiographical novel by Johann Wolfgang von Goethe, first published in 1774; a revised edition of the novel was published in 1787...
(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
Marketing
Marketing is the process used to determine what products or services may be of interest to customers, and the strategy to use in sales, communications and business development. It generates the strategy that underlies sales techniques, business communication, and business developments...
slogan
Slogan
A slogan is a memorable motto or phrase used in a political, commercial, religious and other context as a repetitive expression of an idea or purpose. The word slogan is derived from slogorn which was an Anglicisation of the Scottish Gaelic sluagh-ghairm . Slogans vary from the written and the...
in Japan is (o-kuchi no koibito Lotte), which is translated as "your palate's sweetheart, Lotte".
See also
- Lotte CardLotte CardLotte Card Co, Ltd. is one of Korea's major credit card companies, having over a million customers. Headquartered in Seoul, Korea, the Lotte Card has a partnership with Lotte Capital, and is sponsored by Lotte. Lotte Card was established in 2003 as a technical and business company licenced by...
- Lotte CapitalLotte CapitalLotte Capital Co, Ltd. is a Korean financial company, established in 1995 with headquarters in Seoul, Korea. It was the financial services unit of Lotte. Its divisions are responsible for over 50% of Lotte Department Store revenue....
- Lotte ChilsungLotte ChilsungLotte Chilsung is a South Korean manufacturer of food products, part of the Lotte Group.-History:The company began with the introduction of Chilsung Cider, a lemon-lime soft drink. Lotte Chilsung became one of the largest beverage producers in the young South Korean domestic market. In 1966, Lotte...
- Lotte ConfectioneryLotte ConfectioneryLotte Confectionery is a South Korean company headquartered in Yangpyeong-dong Yeongdeungpo-gu Seoul, Korea. It was established in 1967 and its plants are located in Seoul, Daejeon, Yangsan, Pyeongtaek and Siheung. It manufactures and sells more than 200 products to more than 70 countries. It is...
- Lotte Department StoreLotte Department StoreLotte Department Store is a Korean retail company established in 1979, and headquartered in Sogong-dong, Jung-gu, Seoul, Korea. Lotte Department Store offers retail consumer goods and services and is one out of 8 business units of Lotte Shopping...
External links
- Lotte Group Korea (Korean / English)
- Lotte Group Japan (Japanese / English)
- Lotte Cookie Taiwan (Taiwan:Traditional Chinese)