Lotte World Tower (photo = Lotte Holdings)

 

[Alpha Biz= Reporter Kim Jisun] Lotte Holdings Declares Emergency Management System, Focuses on Affiliate Oversight and Operational Improvements.

Lotte Holdings has officially declared an emergency management system to address increasing uncertainties in the business environment for the second half of the year. The holding company will actively support management improvement activities at underperforming affiliates and is considering requiring executives to work six days a week, including Saturdays.

Chairman Shin Dong-bin emphasized the need to overcome crises and ensure sustainable growth during a recent executive meeting. He outlined four key objectives: enhancing the competitiveness of existing businesses, generating stable profits from global operations, expanding high-value-added businesses, and strengthening financial soundness.

Lotte Group is currently facing overall performance issues across major business sectors such as chemicals and retail, although some affiliates have already implemented their own emergency measures. For example, Lotte Chemical has reduced travel expenses and downgraded executive flight classes, while Lotte Duty-Free has entered an emergency management phase that includes workforce restructuring and executive salary cuts.

 

 

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