Lotte Chairman Shin Dong-bin Visits Vietnam, Urges Push Into New Businesses

Lotte Group Chairman Shin Dong-bin chose Vietnam for his first overseas on-site management trip of the year, checking major operations and calling for expansion into new businesses while meeting local officials to discuss future growth.
 
Lotte Group said on the 26th that Shin visited Hanoi from the 21st to the 24th and toured key sites including Lotte Mall West Lake Hanoi and Lotte Center Hanoi. On the 23rd, he visited Lotte Mall West Lake, received briefings on the performance of major Lotte affiliates operating in Vietnam — including Lotte Department Store, Lotte Mart and Lotte Hotel — and inspected the facilities.
 
Lotte Mall West Lake, which officially opened in September 2023, is a large-scale mixed-use mall that brings together the group’s core capabilities. Cumulative visitors topped 30 million through last month, and cumulative sales reached 600 billion won as of the end of last year. The group expects it to enter the “1 trillion won sales club” within the year.
 
After touring the site, Shin said Vietnam is a key country for the group’s global business and called the continued growth of its core businesses, including food and retail, “very encouraging.” He urged the company to further strengthen competitiveness in existing businesses while also focusing on new areas such as advanced urban development, eco-friendly materials and advanced logistics.
 
Shin also visited a promotional zone at the mall for “Cau Thu Nhi,” a youth soccer entertainment program Lotte has co-produced with Vietnam’s state broadcaster VTV since 2011. The show, which focuses on discovering and developing young soccer talent, has been popular locally. Shin met Kim Sang-sik, head coach of Vietnam’s national soccer team, wished the team success and expressed support for developing prospects.
 
During the trip, Shin also stepped up engagement with senior Vietnamese figures. On the 22nd, he held a series of meetings with Vu Dai Thang, chairman of the Hanoi People’s Committee, and To An Xo, a party secretary and aide to the state president, among others.
 
Shin shared Lotte’s investment results over more than 30 years since entering Vietnam and said the group would pursue various urban development plans centered on its strengths to contribute to Hanoi’s development.
 
Shin also attended official events tied to President Lee Jae-myung’s state visit to Vietnam, including a state banquet and a business forum. He previously led an economic delegation to Indonesia in April last year to seek expanded cooperation between companies in the two countries, and in March he took part in an economic delegation to the Philippines.