Lotte leaders hold secret meeting in search of ways to salvage chemical biz
Lotte Group’s regular executive gathering, called the Value Creation Meeting (VCM), began its second-half edition Wednesday in an unusual format, stretching to two days for the first time since the retail-to-petrochemical conglomerate launched the biannual event. Unlike previous editions, the meeting was held behind closed doors at the group’s employee training center in Osan, Gyeonggi Province, instead of the usual venue, a company-owned hotel in Seoul where reporters can typically get comments from CEOs. The secretive setting is seen as a reflection of the group’s concerns over a slowdown across key business areas, particularly petrochemicals. Roughly 80 top leaders, including Chairman Shin Dong-bin and his son Shin Yoo-yeol, the vice president overseeing future growth, arrived at Lotte Academy Osan Campus Wednesday morning. Reporters were barred from interviews and denied entry. Lotte typically holds VCMs twice a year, in January and July, and previous meetings lasted half a day at Lotte World Tower in southeastern Seoul. This year’s agenda remained confidential, but industry
Jul 16, 2025By Park Jae-hyuk
