OWL Magazine Korea

Jamsil Lotte World Tower: Statue of Shin Kyuk-ho (Photo)

Shin Kyuk-ho was an entrepreneur from South Korea and Japan, known as the founder and inaugural chairman of Lotte Group. Lotte expanded its business portfolio from its inception with Lotte Confectionery, venturing into various businesses such as Lotte Hotels, Lotte World, and Lotte Ham.

Currently, Lotte has entered the retail industry with ventures like Lotte. Department Store, further realizing the late Chairman Shin Kyuk-ho’s dream of “Second Lotte World” by ultimately constructing “Lotte World Tower” in Jamsil.

“Chairman Shin Kyuk-ho and the 3L Philosophy”

Born on November 3, 1921, Chairman Shin Kyuk-ho passed away on January 19, 2020, at the age of 98.

Chairman Shin Kyuk-ho grew Lotte Group based on the values of “3L”: Love, Life, Liberty. Starting from how people dress, eat, and live, the philosophy ultimately aimed to provide places where people could truly enjoy themselves.

Under this philosophy, he developed a culture of shopping centered around Lotte Department Store and entered the entertainment sector with Lotte World. Chairman Shin Kyuk-ho was particularly fixated on the construction of Second Lotte World, aiming to provide a building in Seoul with entertainment elements due to a lack of proper recreational culture in South Korea.

The above information can be found in the book “Lotte and Shin Kyuk-ho: There Are No Boundaries to Challenging Passion” by author Im Jong-won.

“Statue of Shin Kyuk-ho: Visible in Jamsil Lotte World Tower”

Visitors can now encounter a statue of Chairman Shin Kyuk-ho in one corner of the 1st floor of Lotte World Tower in Jamsil. His statue can be observed on one side of the lobby wall on the 1st floor.