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Facing crisis, Lotte Group gears up for bold leadership shake-up. With both its retail and chemical businesses underperforming, Lotte’s total market capitalization has shrunk from approximately $14.2 billion at the end of 2022 to about $9.2 billion as of Nov. 13. Over the same period, Lotte’s ranking among South Korea’s largest conglomerates by market value slipped from 12th to 16th.
Dividends from major retail industry owners such as Lotte, Shinsegae. Dividends from major retail industry owners such as Lotte, Shinsegae, and Hyundai have been disclosed as the settlement period for fiscal year 2024 is approaching.According to the industry on the 12th… Lotte Group Chairman Shin Dong-bin will receive about 28.481 billion won in dividends from four listed affiliates. Lotte Holdings’ common…
South Korea Gift Card and Incentive Card Market Intelligence 2024-2028. South Korea Gift Card and Incentive Card Market Intelligence 2024-2028 Featuring Key Retailers – Lotte Group, Shinsegae, Hyundai Department Store, GS Holdings, SK Planet, BGF Retail, Costco Wholesale.
Facing Crisis, Lotte Group Gears up for Bold Leadership Shake-Up
Table of Contents
In a strategic move to address its recent financial challenges, Lotte Group, South Korea’s sixth-largest conglomerate, has announced a historic leadership shake-up. The group replaced the CEOs of 18 out of its 58 subsidiaries in its annual reshuffle on November 28,marking the largest leadership overhaul in the group’s history [[3](https://www.chosun.com/english/industry-en/2024/11/29/BGS2XUH7XJAUBGWIVBH2NM35A4/)].
Financial Struggles and Market Position
Lotte Group has been facing meaningful financial difficulties. Both its retail and chemical businesses have underperformed, leading to a substantial decline in its total market capitalization. the group’s market value shrank from approximately $14.2 billion at the end of 2022 to about $9.2 billion as of November 13. Over the same period, Lotte’s ranking among South Korea’s largest conglomerates by market value slipped from 12th to 16th.
Leadership Changes
The recent shake-up is a response to the rumors of a liquidity crisis at the conglomerate’s chemical subsidiary. By replacing the CEOs of a significant number of its subsidiaries, Lotte aims to revitalize its operations and improve its financial health [[3](https://www.chosun.com/english/industry-en/2024/11/29/BGS2XUH7XJAUBGWIVBH2NM35A4/)].
Dividend Disclosures
As the settlement period for the fiscal year 2024 approaches, dividends from major retail industry owners such as Lotte, Shinsegae, and Hyundai have been disclosed. According to industry sources, Lotte Group Chairman Shin Dong-bin will receive about 28.481 billion won in dividends from four listed affiliates. This move highlights the group’s efforts to maintain transparency and shareholder value amid its financial challenges.
Market Intelligence on Gift and Incentive Cards
A recent market intelligence report on the South Korea Gift Card and Incentive Card Market for 2024-2028 features key retailers such as lotte Group, Shinsegae, Hyundai Department Store, GS Holdings, SK Planet, BGF Retail, and Costco Wholesale. This report underscores the importance of the gift and incentive card market as a potential growth area for Lotte and other major retailers in south Korea.
Conclusion
The comprehensive leadership shake-up at Lotte Group signals a bold attempt to address its financial struggles and improve its market position. By replacing a significant number of CEOs and focusing on strategic areas like the gift and incentive card market, Lotte is taking steps to revitalize its operations and secure its future in the competitive South Korean retail landscape.
