Lotte eyes on co-prosperity for sustainable growth
![Lotte Group is actively participating in volunteer activities to support people in need. [LOTTE GROUP]](https://koreajoongangdaily.joins.com/data/photo/2022/03/02/48878a11-6f6e-4138-b645-b2e45a790d06.jpg)
Lotte Group is actively participating in volunteer activities to support people in need. [LOTTE GROUP]
As part of its focus on corporate social responsibility, Lotte Group is operating a shared growth fund valued at about 1 trillion won ($840 million) and providing loans to its partner companies. In 2018, it was the first conglomerate to introduce a win-win payment method across all affiliates, contributing to securing stable funding for its small- and medium-sized partners.
![Lotte Group is actively participating in volunteer activities to support people in need. [LOTTE GROUP]](https://koreajoongangdaily.joins.com/data/photo/2022/03/02/b6ba7b90-f08e-4c5f-a54e-c3664ede4c8c.jpg)
Lotte Group is actively participating in volunteer activities to support people in need. [LOTTE GROUP]
The company will establish a department dedicated to ensuring effective cooperation and form a consultative body with various relevant departments to operate it as a platform for support and information sharing.
Lotte Group strives to create a start-up ecosystem through Lotte Ventures that enables start-ups and conglomerates to coexist through cooperation. The representative program of Lotte Ventures is L-Camp, which selects promising startups and comprehensively supports the chosen company with initial investment, office space, management support and mentoring.
Other affiliates of Lotte Group are also collaborating with start-ups.
Lotte Home Shopping has produced ten thousand green diary kits with eco-friendly startup Marine Innovation for their employees and partner companies. The home shopping company has been continuously operating programs to discover promising start-ups and help them develop since 2017. The company has provided 1.4 billion won in subsidies to a total of 35 start-ups so far.
Convenience store chain 7-Eleven signed a business agreement with Oasis Business, a start-up that provides real estate valuation solutions, on Jan. 20. It plans to establish an advanced start-up information system and eventually increase the success rate of newly opened convenience stores.
Lotte Group is also actively involved in numerous volunteer programs. Lotte World hosted an upcycled tote bag coloring activity session for senior citizens who live alone.
Lotte Shopping contributed 30 million won to Korea Food for the Hungry International (KFHI) to support young caregivers on Jan. 19 as part of the Rejoice On campaign. The Rejoice On campaign is a customer-participating fundraising event held by Lotte ON since last December to support young caregivers. Lotte Shopping donated 1,000 won each time a customer clicked and raised 30 million won.
Lotte Concert Hall is running a project with ChildFund Korea to discover classical music talent among low-income children and support them with scholarships and professional education.
Lotte Cultureworks ran a blood donation campaign with Nambu Blood Center and the Korean Red Cross.
BY HAJIN KIM (kim.hajin@joongang.co.kr)
with the Korea JoongAng Daily
To write comments, please log in to one of the accounts.
Standards Board Policy (0/250자)