Lotte to seek change with new slogan

Lotte Group revealed a new slogan “New Today, Better Tomorrow” at its Value Creation Meeting for the second half of the year. It denotes the company's determination to seek “innovation that benefits everyone for the sustainable future of mankind.” The retail giant aims to become a future-oriented firm, leading change and innovation.

On Sept. 18, Lotte unveiled an advertisement campaign for its new slogan. This emphasized the company's goal to become a leader in major business fields such as groceries, a smart shopping platform and accommodation, and eco-friendly projects. To reach out to the Millennial generation, the retailer also introduced a commercial jingle in collaboration with hip hop musician DPR.

Lotte established a brand management team under Lotte Holding's communication office last June. The new organization is tasked with integrating and operating brand-related tasks that were previously handled by three individual teams including Lotte Holdings and Business Unit.

The brand management taskforce consists of managers from affiliates' brand-related team and Business Unit, who meet regularly to create policies and share strategies while developing integrated brand indicators.

Lotte Holdings recently established a design management center and appointed former Prof. Bae Sang-min from the Industrial Design Department of the Korea Advanced Institute of Science and Technology (KAIST) as its first president.

Bae is one of the nation's top experts in the field and he is expected to not only oversee design innovation for Lotte's products but also help in it adopting a creative organization culture.

Lotte is also working to secure new growth engines by establishing several organizations to promote new projects.

A healthcare team plans to focus on digital healthcare and products for seniors; while a bio team has been acquiring companies in the industry and establishing joint ventures with pharmaceutical companies to seek business opportunities.

Lotte is also showing changes in its retail and chemical businesses. Lotte Chemical is focusing on the eco-friendly hydrogen business, announcing a roadmap in July to invest 4.4 trillion won in green projects by 2030. It aims to achieve carbon-neutral growth and supply 30 percent of domestic hydrogen demand within the next nine years. The company expects to make 3 trillion won of sales by then, producing 600,000 tons of clean hydrogen.

Lotte Shopping is also leading a new trend in retail business by opening a series of new stores with different concepts. Lotte Department Store recently introduced new branches in Dongtan and Uiwang, where customers can experience distinguished shopping spaces at the former and shop in a green natural environment of the latter.

(Advertorial)