Lotte Group was established in 1948 as a multinational conglomerate headquartered in South Korea and Japan. Founded by Shin Kyuk-ho in June 1948, Lotte expanded its business in the 1970s and has since become South Korea's largest company in the food industry. The group has diversified into hotels, shopping centers, distribution, and tourism, while also participating in key national industries such as construction and petrochemicals. In the 1980s, with the rise of technology and strong domestic financial growth, Lotte maximized its competitiveness in distribution, tourism, and food sectors, becoming South Korea's 10th largest company. By the 1990s, Lotte held a leading position in these sectors and boldly invested in global markets.