LOTTE Corporation – history, company profile (overview) and corporate video
LOTTE Corporation is a multinational conglomerate (a multi-industry company) with interest in various areas, ranging from food, retail, tourism to chemicals, construction and finance. It is headquartered in Seoul, South Korea.
HISTORY
The history of LOTTE began in 1948, with the manufacturing and sales of chewing gum in Tokyo, Japan. LOTTE was founded by Korean businessman Takeo Shigemitsu (Kyukho Shin), and was named after “Charlotte,” the heroine of Goethe’s “The Sorrows of Young Werther”.
In 1964, the company began manufacturing and selling chocolate.
In 1966, Dongbang Alumi Industry (now LOTTE Aluminum) was established.
In 1967, LOTTE Confectionery (now LOTTE WELLFOOD) was established.
In 1970, the company began manufacturing and selling candies.
In 1971, LOTTE ORIONS (currently CHIBA LOTTE MARINES) baseball team was founded.
In 1972, the company began manufacturing and selling ice cream.
In 1973, LOTTE Hotel, LOTTE Machine Industry and LOTTE Pioneer were established.
In 1974, LOTTE Int’l was established, and Chilsung Hanmi Beverage (now LOTTE Chilsung Beverage) was acquired.
In 1976, the company began manufacturing and selling biscuits.
In 1976, Honam Petrochemical Corp (now LOTTE Chemical) was acquired.
In 1978, LOTTE Ham/Milk(now LOTTE Foods) was established, and Samkang Industrial (now LOTTE Foods) and Pyeonghwa Engineering & Construction (now LOTTE Engineering & Construction) were acquired.
In 1979, Lotteria and LOTTE Shopping were established.
In 1980, LOTTE Frozen was established, and Korea Fuji Film, Co. was acquired.
In 1982, Daehong Communications, LOTTE Giants, and LOTTE Corporation were established.
In 1983, LOTTE Central Research Institute and LOTTE Distribution business headquarters were established.
In 1984, LOTTE Hotel Busan was established.
In 1985, LOTTE Canon (now Canon Korea Business Solutions INC) was established.
In 1988, THAI LOTTE CO., LTD. was established.
In 1991, LOTTE Station Building Co. Ltd. was established.
In 1993, PT. LOTTE INDONESIA was established.
In 1994, Korea Seven was acquired.
In 1995, LOTTE Capital was established.
In 1996, LOTTE Logistics, LOTTE Data Communication Company, and LOTTE VIETNAM CO., LTD. were established.
In 1998, LOTTE Mart was established.
In 1999, LOTTE Cinema was established.
In 2000, LOTTE.com, LOTTE Boulangerie, and LOTTE Super were established.
In 2002, Dongyang Card (now LOTTE Card) was acquired., and LOTTE SNOW CO., LTD. was established.
In 2004, LOTTE Shopping KKD Division (now Lotteria KKD division) was established, and KP Chemical was acquired.
In 2006, Woori Home Shopping (now LOTTE Homeshopping) was acquired.
In 2007, Korea Fire & Marine Insurance (now LOTTE Insurance) was acquired.
In 2008, Mary Chocolate Co., Ltd. joined as a subsidiary company.
In 2008, KI Bank (now LOTTE PS Net) was acquired.
In 2009, Doosan Liquor BG (now LOTTE Chilsung Beverage Liquor Division), Mybi, and Kirin were acquired.
In 2010, LOTTE Wedel sp. z o.o. joined as a subsidiary company
In 2010, LOTTE acquired Buy The Way, UK’s Artenius PTA/PET, EB Card, GS Retail stores and discount supermarkets, Malaysia’s Titan Chemical (now LOTTE Chemical Titan), China’s LuckyPa, Philippines’ Pepsi(PCPPI), Pasteur Dairy Company, and Hyundai Information Technology.
In 2012, Hi Mart (now LOTTE Hi Mart) was acquired.
In 2013, Kazakhstan’s Rakhat was acquired
In 2015, LOTTE Members was established, and the company acquired KT Rental (now LOTTE Rental) and U.S’s The New York Palace Hotel.
In 2016, Samsung Fine Chemicals, Samsung BP Chemicals (now LOTTE Fine Chemicals, LOTTE BP) was acquired.
In 2017, LOTTE Corp. was launched, and LOTTE World Tower was opened.
BUSINESSES
Food
LOTTE Wellfood is one of the leading food business groups for a diverse range of food markets, such as confectionery, beverages, liquor, food ingredients, and processed foods, and even dining businesses.
Retail
LOTTE is one of the leading Korea’s distribution companies, with innovative distribution channels and various store formats.
Chemical/Construction/Manufacturing
LOTTE Chemical is a chemical company that has been contributing to the development of the domestic chemical industry since its entrance into the field in the 1970s.
LOTTE E&C is recognized all over the world for its outstanding capabilities, experience, and expertise.
LOTTE also produces high-quality industrial goods and consumer goods through its affiliates that possess core technologies in specialized fields.
Tourism/Service/Finance
LOTTE is one of the leading companies in the Korean tourism and service industries.
LOTTE’s Finance Division provides various financial services, including credit financing, payment, and billing services.
BRANDS
- Lotte Wellfood
- Lotte Chilsung Beverage
- Lotte Liquor
- Lotte-Nestle
- Lotte Asahi Liquor
- LottePeopleNetworks
- Lotte R&D Center
- Lotte GRS
- Lotte Members
- Lotte Department Store
- Lotte Mart
- Lotte Super
- Korea Seven
- Lotte Hi-Mart
- Lotte Home Shopping
- Lotte E-Commerce
- Lotte CultureWorks
- FRL Korea
- Lotte GFR
- Korea STL
- Lotte MCC
- Lotte E&C
- Lotte CM Business Division
- Lotte Aluminum
- Lotte Fine Chemical
- Lotte INEOS Chemical\
- Canon Korea INC
- KP ChemTech
- Korea FUJIFILM
- Global Logistics
- Lotte Rental
- Lotte Resort
- Lotte Duty Free
- Lotte Fundation for Arts
- Lotte Property & Development
- Lotte Institute of Economy & Business Strategy
- Lotte Welfare Foundation
- Lotte Samdong Welfare Foundation
- Lotte Skyhill CC
- Lotte World
- Lotte Academy
- Lotte Asset Development
- Lotte Giants
- Lotte Scholarship Foundation
- Lotte Innovate
- Lotte JTB
- Lotte Capital
- Lotte Hotel
- Daehong Comunications
- Lotte Hotel Busan
GLOBAL OPERATIONS
- China
- Thailand
- Malaysia
- Indonesia
- Vietnam
- Cambodia
- Uzbekistan
- India
- United States
- United Kingdom
- Kazakhstan
- Poland
- Australia
- New Zealand
With more than 60,000 employees and over 90 business units, LOTTE Corp. is considered one of the largest industrial South Korean conglomerates and one of Korea’s largest food business groups. According to Forbes, it is considered one of the Largest Public Companies in the World.
*Information from Forbes.com, Wikipedia.org, and www.lotte.co.kr/global/en.
**Video published on YouTube by “롯데 LOTTE“.
