Lotte Group Chairman Shin Dong-bin (left) and his eldest son Shin Yoo-yeol (photo = Lotte)

 

[Alpha Biz= Reporter Kim Sangjin] Shin Yoo-yeol, the eldest son of Lotte Chairman Shin Dong-bin, has acquired over 7,000 shares of Lotte Holdings.

According to the Financial Supervisory Service's electronic disclosure system on the 5th, Vice President Shin acquired 7,541 shares of Lotte Holdings common stock, securing a 0.01% stake. The cost of purchasing the shares amounted to approximately 195 million won.

This marks the first time Vice President Shin has purchased shares of Lotte Group affiliates.

Since starting work at Lotte affiliates in 2020, Vice President Shin has been shuttling between Korea and Japan, receiving management training. He was promoted to vice president in personnel changes at the end of last year, taking on roles as the head of the Future Growth Division newly established at Lotte Holdings and as head of the Global Strategy Division at Lotte Bio-Logics.

In March, he was also appointed as an internal director of Lotte Bio-Logics.

With Vice President Shin, who has not held shares of Lotte's core affiliates in the past, securing Lotte Holdings shares for the first time, attention from the business community is focused on whether he will accelerate additional stake acquisitions and succession planning.

 

 

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