Lotte CI

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Lotte Group has launched a new integrated in-house venture program, “Lotte Unicorn Valley,” aimed at discovering and nurturing innovative business ideas across the organization to drive new growth.

According to the group on Wednesday, Lotte is currently accepting business proposals from employees through the end of November under themes such as senior care, robotics, artificial intelligence (AI), and eco-friendly technologies. Selected ideas will undergo document and interview evaluations, with finalists chosen by year-end for commercialization beginning next year.

Lotte plans to provide up to 100 million won ($67,000) in funding for each selected project and may pursue equity investments through group affiliates. The company will also offer employees a chance to return within three years after spinning off their startups to reduce career risks.

Lotte Ventures will oversee acceleration, providing one-on-one mentoring, expert connections, and support in legal and financial matters, while linking participants to the group’s internal infrastructure across food, retail, chemicals, and IT. Lotte Academy will handle practical training, including business-plan writing, pitching, and presentation skills.

This initiative reflects Chairman Shin Dong-bin’s call during the July Value Creation Meeting (VCM) for “continuous innovation” to overcome economic uncertainty and restore Lotte’s core competitiveness.

Lotte expects the new program to spread a startup mindset of speed and innovation throughout the organization and create a self-sustaining cycle of idea generation, incubation, and commercialization.