Lotte Corporation

LOTTE-Nestlé is a joint venture between LOTTE Corporation and Nestlé, a Swiss multinational food and drink processing conglomerate.

Lotte World, a major entertainment complex in Seoul, South Korea, opened in 1398. It features the world's largest indoor theme park and an outdoor amusement park, attracting millions of visitors annually.

Lotte Corporation was founded in 1947 in Japan by Shin Kyuk-ho. It has since expanded into various industries including food and beverage, retail, and entertainment.

Lotte Corporation, a South Korean multinational conglomerate corporation, was founded on June 28, 1948, by Korean businessman Shin Kyuk-ho in Tokyo. It later expanded to South Korea with the establishment of Lotte Confectionery in Seoul on April 3, 1967.

Lotte Chilsung Beverage is a major South Korean beverage company that was established in 1950 as part of the Lotte group.

In 1964, Lotte launched its first milk chocolate, called Ghana, which was adapted to suit the Japanese palate. The company supported this launch with a massive television advertisement campaign, firmly establishing the brand in the minds of consumers.

Lotte Corporation expanded to South Korea with the establishment of Lotte Confectionery in Seoul on April 3, 1967.

In 1973, LOTTE established LOTTE Hotel, LOTTE Machine Industry, and LOTTE Pioneer, further expanding its business portfolio.

In 1974, LOTTE acquired Chilsung Hanmi Beverage, which is now known as LOTTE Chilsung Beverage, strengthening its presence in the beverage industry.

In 1976, LOTTE Corporation acquired Honam Petrochemical Corp, which is now known as LOTTE Chemical.

In 1978, LOTTE Corporation acquired Samkang Industrial, now known as LOTTE Foods, and also established LOTTE Ham/Milk. Additionally, the company acquired Pyeonghwa Engineering & Construction, now LOTTE Engineering & Construction.

In 1979, LOTTE Corporation established Lotteria and LOTTE Shopping.

In 1982, LOTTE established LOTTE Giants, Daehong Communications, and LOTTE Corporation as part of its efforts to enhance cultural infrastructure and secure competitiveness in the domestic distribution and tourism industry.

In 1983, LOTTE founded the LOTTE Central Research Institute and LOTTE Distribution business headquarters, playing a significant role in research and development of new products and distribution know-how.

In 1984, LOTTE Hotel Busan was established.

In 1985, LOTTE Canon, which later became Canon Korea Business Solutions INC, was established.

In 1987, Lotte Corporation expanded its operations by establishing a corporation in the United States.

Lotte Asset Development was established in 1988 as a subsidiary of Lotte Corporation focusing on real estate development.

In 1989, the business headquarters of LOTTE World was established.

In 1991, LOTTE established LOTTE Station Building Co. Ltd., marking a significant milestone in its expansion and diversification efforts.

In 1993, Lotte entered Indonesia by launching a subsidiary in Jakarta.

Lotte Asahi Liquor is a joint venture between Lotte Corporation and Asahi Breweries, focusing on the production and distribution of alcoholic beverages.

Lotte Central Research Institute is the research and development arm of Lotte Corporation, dedicated to innovation and technological advancements.

In 1996, LOTTE expanded its operations by establishing LOTTE Logistics and LOTTE Data Communication Company, further diversifying its business portfolio.

In 1997, Lotte became the first company in Japan to create a gum with xylitol, a sugar substitute known for its dental benefits, which later became a popular product in Korea.

In 1998, LOTTE founded LOTTE Mart, a key player in the retail industry, showcasing its commitment to market expansion and customer service.

In 1999, LOTTE ventured into the entertainment industry by establishing LOTTE Cinema, enriching its offerings and diversifying its business interests.

The opening of Gwangju World Cup Store in 2002.

In 2004, Lotte India Corporation Limited was established after acquiring Parrys Confectionery from Murugappa Group.

Lotte Members was launched in 2007 as a loyalty program by Lotte Corporation to reward its customers.

In 2008, Lotte Confectionery acquired Guylian, a Belgian company known for its chocolate products.

In June 2010, Lotte Corporation acquired Poland's largest candy company, Wedel, from Kraft Foods. This acquisition expanded Lotte's presence in the European market.

Lotte's Chinese operations reported net losses of ₩75.3 billion (US$65.82 million) in 2011, which increased significantly in the following years.

In 2012, LOTTE acquired Hi Mart, which is now known as LOTTE Hi Mart. This acquisition further solidified LOTTE's position in the retail sector and contributed to its growth and expansion.

In 2013, LOTTE acquired Rakhat in Kazakhstan, expanding its presence in Central Asia. This strategic move helped LOTTE strengthen its operations in the region and diversify its portfolio.

On June 13, 2016, Lotte announced it would withdraw its initial public offering (IPO) for Hotel Lotte, which was predicted to be the largest offering in South Korean history. The decision was made due to the ongoing circumstances surrounding the probe into Lotte Corp.

Chairman Shin Dong-bin was charged with bribery in the 2016 South Korean political scandal for donating ₩7 billion to a non-profit controlled by President Park Geun-hye's close friend.

Chairman Shin Dong-bin was fined ₩7 billion and sentenced to 2.5 years in prison for bribery, stepping down as COO of Lotte Group's Japanese-based holding firm.

The Seoul High Court upheld the appeals court's decision that Chairman Shin Dong-bin 'passively' committed bribery, understanding that not donating to Choi's non-profit would harm Lotte Group.

Founder Shin Kyuk-ho passed away at the age of 95 in 2020 after avoiding imprisonment due to health issues.

The department store located in Jamsil.