How is Lotte Group rethinking retail in the world's most digitalized market?
a conversation about a tech-savvy population, customer-centric retail, and more
Previous edition: “What we learned in Q2 + why APAC proves that is the future of retail”
We launch the first episode of our six-part series in partnership with NRF APAC. The second edition of the National Retail Foundation happened in Singapore in June, and OFFBounds went there to attend the event, cover some panels, and record interviews with leaders from the East.
We start with Sam Kim (in his first ever interview), he’s the Vice Chairman and & Group CEO at Lotte Group, one of Asia’s largest and most diversified retail groups. We explore in this conversation how the Group is building a retail ecosystem that goes far beyond stores.
Let’s unpack the key takeaways in this edition.
In this edition:
1. About the company
2. About the guest
3. Our episode highlights
4. Where can you watch/listen
1. About the company
The foundation of Lotte dates back to the 1960s, and now the Group has more than 14,000 locations, including department stores, hypermarkets, 7-Eleven franchises, cinemas, and hotels.
“We have to create a common vision. And, when you have such a diversified portfolio where we're selling everything from luxury to lettuce and chicken legs, you need to ensure that we have a common purpose and vision that everybody can aspire to.” Sam Kim, Vice Chairman and & Group CEO at Lotte Group.
They operate the business in four main areas:
Food: operates across snacks, beverages, processed foods, and dining. Expanding globally with a focus on innovation and brand strength.
Retail: leads in department stores, supermarkets, duty-free, and e-commerce. Investing in mobile and new retail formats to grow internationally.
Chemical, Construction & Manufacturing: develops advanced materials, industrial goods, and infrastructure projects through strong tech and engineering capabilities.
Tourism, Services & Finance: runs hotels, resorts, logistics, and entertainment businesses. Offers financial services like credit and payments, with global ambitions.
2. About the guest
Previous to Lotte Group, Sam Kim (his LinkedIn) worked all over the world, in the US, Korea, Singapore, and Japan, in companies such as P&G, DFI Retail Group, Homeplus, Dairy Farm Group, and accepted the role at Lotte in 2022.
“There were a lot of shifting customer habits, and our chairman felt that Lotte retail needed some transformation to address and meet customers' needs better. And so I was given the opportunity to come in, and it's an exceptional opportunity for someone like myself, who sees that we have a phenomenal brand.” Sam Kim, Vice Chairman and & Group CEO at Lotte Group.
Sam was recruited to lead retail transformation in the Group, and in our conversation, he speaks about what it takes to lead this kind of transformation across 10+ business lines and one of the most demanding consumer (and digital markets) in the world.
3. Highlights
South Korea has officially become the first country where over 50% of retail sales happen online, making it a global outlier in digital adoption. In this tech-savvy
environment, Lotte is showing what transformation at scale truly looks like.
Lotte’s transformation is driven by a clear goal: to become the top shopping destination for customers.
Some of our highlights:
1. Transformation begins with purpose, not just technology: Sam brought together Lotte’s diverse business units under becoming the customer’s first choice, whether on mobile or in-person experiences.
2. In Korea, shopping is channel-less: consumers fluidly move between physical and digital spaces, and Lotte follows their lead, delivering a unified experience across every touchpoint.
”Korea is the first country now to go across 50% in e-commerce shopping. So for Koreans, I tell my organization that there is no more online or offline. There is no line.” Sam Kim, Vice Chairman and & Group CEO at Lotte Group.
3. At Lotte, AI isn’t a trend, it’s a tool: from automated fulfillment to AI-driven sommelier recommendations and virtual shopping assistants, technology is thoughtfully embedded to elevate the customer journey.
4. “The moment I believe I know it all is when I likely know the least”: Sam’s leadership is grounded in humility, a mindset that fuels continuous learning and innovation across the organization.
4. Where can you watch/listen
Find the full conversation and valuable insights on our YouTube channel, Spotify, or Apple Podcasts. Choose your favorite podcast provider below:
Next Tuesday (July 8th, 7 AM GMT), we’re launching the second episode of our APAC series, this time, exploring India’s digital retail boom with Myntra CEO Nandita Sinha. Expect mind-blowing numbers and insights you’ll only hear from inside their ecosystem.
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