Founded one of South Korea's largest conglomerates, Lotte Group, a multinational corporation with diverse businesses including confectionery, retail, and construction. Known for his entrepreneurial spirit and vision that transformed the company into a global brand.
Shin Kyukho, also known as Shigemitsu Takeo in Japan, is renowned for founding the South Korean-Japanese conglomerate Lotte Corporation Group, one of the largest chaebols in South Korea. His remarkable entrepreneurial journey propelled him to become the fourth wealthiest person in the world in 1988, according to Forbes, setting a record for the greatest wealth ever achieved by a Korean.
Born on November 3, 1921, in Ulsan, Korea, Shin was the first of five sons and five daughters. His sibling, Shin Choonho, went on to found the South Korean food conglomerate Nongshim. Shin's earlylife was marked by a sense of adventure, as he stowed away on a ship to Japan in 1941 to pursue his education.
In Japan, Shin studied chemical engineering at Waseda University and graduated from Waseda Jitsugyo High School. He adopted the Japanese name Takeo Shigemitsu and opened a rice cooker manufacturing plant in 1942. However, his plans were disrupted when the plant was destroyed during an air raid, leaving him unemployed.
Shin's fortunes changed when he founded Lotte in 1948. Initially, the company focused on selling chewing gum, but under Shin's visionary leadership, it expanded its operations to South Korea in 1967 and grew into a multinational corporation.
In 2006, Shin and his family were ranked 136th on Forbes' list of The World's Billionaires. In 2009, he was ranked 38th on the magazine's list of South Korea's richest people. Lotte itself became South Korea's fifth-largest conglomerate as of 2017.
In June 2017, Shin retired from his role as board director of Lotte Holdings Co. after holding the position for nearly 70 years. Although he faced controversy and was sentenced to four years in prison in 2017, his legacy as a pioneering entrepreneur and philanthropist remains unwavering.
Shin's lifelong desire to contribute to his homeland, South Korea, was fulfilled with the completion of the Lotte World Tower in 2016. The sixth-tallest building in the world and the highest in the Korean peninsula, it stands as a testament to his unwavering dedication to his country's development.
Throughout his life, Shin Kyukho was driven by a strong sense of responsibility to give back to his community and nation. His philosophy centered around the importance of contributing to the greater good, which is reflected in his philanthropic efforts and business endeavors.
Shin Kyukho's remarkable life serves as an inspiration to entrepreneurs and individuals around the world. His perseverance, innovative spirit, and commitment to giving back to his community have left an indelible mark on the business world and beyond.
84 Years Old
South Korea's first businessman president, known for his economic reforms and infrastructure projects, particularly the Four Major Rivers Project. He was also involved in a corruption scandal that led to his imprisonment.
74 Years Old
The first female president of South Korea, serving from 2013 to 2017, known for her efforts to improve relations with North Korea and her subsequent impeachment and imprisonment for corruption.
