Vice chair of Lotte inspires with gloom and doom

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Vice chair of Lotte inspires with gloom and doom

All Lotte affiliates should operate with a sense of urgency, Lotte Corporation Vice Chairman Hwang Kag-gyu said during the group’s annual management session on Wednesday.

Carry on with a sense of crisis and take pre-emptive action, he told them, according to a statement released Thursday.

The session was attended by Lotte Group Chairman Shin Dong-bin, executives and chief executive officers of related companies.

“Thoroughly analyze the appropriateness of investment before execution, and set an example to employees by boosting the management of the budget,” said Hwang at the meeting. Hwang also highlighted the importance of “thoroughly preparing for the possibility of a foreign exchange liquidity crisis in the future.”

“Please refrain from establishing rosy plans that don’t match the reality,” Hwang added.

“Build clear and challenging goals, and please achieve them through revolution.”

He also requested “elastic management” of business.

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