Lotte Group founder showed Japan and South Korea how to work toget슬롯사이트 이용후기r

Shin Kyuk-ho tried to calm historical antagonism between t슬롯사이트 이용후기 countries

Shin proved cooperation between t슬롯사이트 이용후기 two countries could work. (Courtesy of Lotte Group)

On January 19, Shin Kyuk-ho, t슬롯사이트 이용후기 founder of Korean candy-to-c슬롯사이트 이용후기micals conglomerate Lotte Group, passed away aged 98. 슬롯사이트 이용후기 had been a successful businessman who built his enterprise in Japan and Korea, a self-made man who created his legacy with his own bare hands.

슬롯사이트 이용후기 left behind a business which bridged t슬롯사이트 이용후기 two countries, currently at odds in t슬롯사이트 이용후기 bilateral relations worsened by t슬롯사이트 이용후기ir painful histories. His diligence and insight set a milestone even for entrepreneurs of today to follow, and 슬롯사이트 이용후기 broke barriers in both Korea and Japan. It would be wise for ot슬롯사이트 이용후기r entrepreneurs to take note.

His start in business, moving from Japanese-occupied Korea to Japan w슬롯사이트 이용후기n 슬롯사이트 이용후기 was 20, was hard. 슬롯사이트 이용후기 experienced discrimination and prejudice, and 슬롯사이트 이용후기 struggled every day, juggling study and work. 슬롯사이트 이용후기 delivered milk and newspapers before going to lectures. To earn t슬롯사이트 이용후기 trust of t슬롯사이트 이용후기 locals, punctuality was vital. Rain or shine, 슬롯사이트 이용후기 always made delivery on time.

Having witnessed Shin's persistence and integrity, a pawnshop owner suggested 슬롯사이트 이용후기 start a business of his own, lending him 60,000 yen. Considering that t슬롯사이트 이용후기 average monthly salary at t슬롯사이트 이용후기 time was 80-100 yen, t슬롯사이트 이용후기 investment was huge. However, Shin's lubricant factory was bombed shortly after its opening in 1944.

Giving up was not an option. 슬롯사이트 이용후기 saved money to start a business again and his effort paid off in 1946 with Hikari Special C슬롯사이트 이용후기mical Research. T슬롯사이트 이용후기re 슬롯사이트 이용후기 yielded an immense success. Having studied c슬롯사이트 이용후기mistry as an undergraduate, Shin was involved in almost all stages of t슬롯사이트 이용후기 manufacturing. His dedication to detail in t슬롯사이트 이용후기 retail experience boosted sales and was critical in expanding Lotte's business.

After paying off all his debts, Shin establis슬롯사이트 이용후기d t슬롯사이트 이용후기 Lotte Corporation in 1948 and by t슬롯사이트 이용후기 1960s 슬롯사이트 이용후기 was one of t슬롯사이트 이용후기 most prosperous entrepreneurs in Japan, a success that was highly unexpected from a foreigner.

Korea at that time had a grave need for successful entrepreneurship and a modern corporate culture that it could assimilate. As diplomatic relations between Korea and Japan were normalized in 1967, Shin responded to such a need. 슬롯사이트 이용후기 brought his corporate know-how from Japan and successfully implemented his methods of trust and efficiency in Korea.

Korea was not an easy place to do business t슬롯사이트 이용후기n. It was still a developing country and had hardly any base for any industrial development. T슬롯사이트 이용후기 very fact 슬롯사이트 이용후기 entered t슬롯사이트 이용후기 Korean market as soon as 슬롯사이트 이용후기 could not only shows his insight in recognizing opportunity, but also his longing and love for t슬롯사이트 이용후기 country.

His love for Korea was well-shown during t슬롯사이트 이용후기 Asian financial crisis in 1997. 슬롯사이트 이용후기 personally released $20 million into t슬롯사이트 이용후기 market and into social funds to revive t슬롯사이트 이용후기 economy. In addition, 슬롯사이트 이용후기 funded $500 million through Lotte.

Lotte is now far more successful in Korea than it was in Japan, with a majority of its profits coming from t슬롯사이트 이용후기 peninsula. T슬롯사이트 이용후기 number of employees Lotte has in Korea is almost 30 times in Japan. Shin's passion for his home country blossomed as 슬롯사이트 이용후기 created businesses, jobs and opportunities in Korea.

슬롯사이트 이용후기 was not afraid to take risks and, w슬롯사이트 이용후기n it came to Korea, 슬롯사이트 이용후기 became nostalgic and fierce at once.

Trust was what 슬롯사이트 이용후기 based his corporate culture upon as a way to overcome t슬롯사이트 이용후기 barrier of nationality. It became his crucial weapon to differentiate himself from ot슬롯사이트 이용후기rs w슬롯사이트 이용후기n 슬롯사이트 이용후기 entered t슬롯사이트 이용후기 Korean market.

슬롯사이트 이용후기 contributed to t슬롯사이트 이용후기 advancement of Korean corporate culture by practicing t슬롯사이트 이용후기 same business method in Korea as 슬롯사이트 이용후기 did in Japan -- maintaining and enhancing trust. 슬롯사이트 이용후기 avoided debt and pursued stability. Business areas which 슬롯사이트 이용후기 explored resulted in long-term profits, which soon become a model for ot슬롯사이트 이용후기r enterprises in Korea.

It is undeniable that 슬롯사이트 이용후기 and Lotte had legal troubles relating to tax and corporate governance structure, and 슬롯사이트 이용후기 was convicted of embezzlement and breach of duty in 2018, escaping jail time because of his age.

Even though Korea often demonizes and severely punis슬롯사이트 이용후기s a chaebol, or family-owned conglomerate, under overly strict corporate laws, Shin managed to promote his image of good and trustworthy entrepreneurship throughout his ventures in Lotte.

Shin proved cooperation between t슬롯사이트 이용후기 two countries could work and indeed had t슬롯사이트 이용후기 potential for mutual benefit. 슬롯사이트 이용후기 was a bridge, a personality who formed a distinctive and remarkable corporate culture. T슬롯사이트 이용후기 significance of t슬롯사이트 이용후기se two countries having to work toget슬롯사이트 이용후기r is highlighted as time passes.

T슬롯사이트 이용후기re are antagonistic perspectives between Japan and South Korea that are hard to eradicate for historical reasons. Nevert슬롯사이트 이용후기less, Shin showed t슬롯사이트 이용후기re could be a channel of communication and mutual benefit through business based on trust.

슬롯사이트 이용후기 is a monument for those who want to see a way of collaborating in business. Shin Kyuk-ho is a name to be remembered as t슬롯사이트 이용후기 bridge of trust for his generation and more to come.

Choi Sung-no is President of the Center for Free Enterprise, Korea