What: Shin Yoo-yeol, Lotte Group's Heir Apparent, is set to revitalise the struggling retail business.

Why it is important: Shin Yoo-yeol taking on a more prominent role in Lotte Group's retail business is a generational shift to inject fresh momentum and strengthen the company's struggling retail channels.

While specific details about his responsibilities have not been confirmed, Shin has been making more public appearances at key Lotte Group events. He attended the group's leadership meeting earlier this year, where the chairman emphasized the need to strengthen Lotte's global competitiveness. With his international experience and Japanese nationality, Shin may focus on overseeing Lotte's overseas operations. He currently holds positions at Lotte Strategic Investment and Lotte Financial and joined Lotte in 2020 for management succession.

Lotte’s third-generation heir to tighten grip on retail business