Shin Kyuk-ho (4 October 1921 – 19 January 2020) was a Korean-born businessman best known as the founder of Lotte Corporation, one of the largest conglomerates operating across Japan and South Korea. In Japan he was also known by his Japanese name, Takeo Shigemitsu. Over several decades he expanded a small confectionery business into a diversified group with interests in retail, food, chemicals, tourism and property.
Early years and founding of Lotte
Born in 1921 in Korea while the peninsula was under Japanese rule, Shin moved to Japan as a young man. In 1948 he launched a small company in Tokyo that produced chewing gum and confectionery. He chose the name Lotte after a literary character (Charlotte, or "Lotte") from European literature, a reference that he felt suited an international brand. The business found an audience in postwar Japan and provided the platform for later expansion.
Growth and diversification
From its confectionery beginnings, Lotte expanded into multiple sectors. The company entered the South Korean market in the 1960s and went on to develop department stores, supermarkets, hotels and entertainment facilities. Notable Lotte projects include the Lotte World amusement complex in Seoul and large-scale property developments. Lotte later became involved in manufacturing, chemicals, finance and other industries, operating as a multi-industry conglomerate spanning both countries.
Structure and operations
Lotte evolved into a transnational corporate group with parallel operations in Japan and South Korea. Its structure included numerous affiliated companies and regional units, each handling different businesses such as food production, retailing, hospitality and construction. This model made Lotte a prominent example of a business organization with deep commercial ties across national boundaries in East Asia.
Legacy and succession
Shin was widely recognized for his role in creating a major regional business empire and for fostering economic ties between Japan and South Korea through commerce and investment. In later years he stepped back from everyday management, and leadership passed to the next generation. The family’s succession and governance drew public attention as Lotte’s various units continued to expand. Shin’s life and career are often cited in discussions of postwar entrepreneurship and the rise of large private business groups in East Asia.
Shin Kyuk-ho died on 19 January 2020 at the age of 98. His role as Lotte’s founder remains a central part of the company’s corporate history and of modern business history in Korea and Japan.