Rank: 3, Headquarters: Seoul
CEO: Lee Won Joon, No. of employees: 7,318
Lotte Department Store is Korea’s undisputed leader in department store chains, operating a number of department stores and outlets in major cities across Korea. Since the opening of their flagship store in 1979, the company has led the progress of Korea’s distribution industry by offering a great shopping experience. During the past three decades, Lotte Department Store has grown as Korea’s leading distribution firm in terms of size, sales and service.
With the goal of becoming a global department store adored by customers, Lotte established a vision of ‘2018 Global Top 5’ and has made every effort to create the best corporate culture to work for. Lotte ranked third among department store operators in the ‘Forbes Global 2000 Leading Companies’, acquiring Environment Management System certification (ISO 14001) and E-commerce Information Security Management System certification (ISO27001), being included in the Dow Jones Sustainability Index World for five consecutive year. The company also topped the survey on customer satisfaction for 10 consecutive years and was included in ‘100 Best Companies to Work for’ for four years in a row.
The company is employing various systems to narrow the gap between generations or positions and to facilitate communication among employees to encourage them to freely express their opinions.
To promote an equitable work-life balance, the company has introduced the concept of ‘Work Smart’. Under this initiative, the company adopted a ‘PC-OFF’ system where computers are automatically turned off at seven p.m. to reduce unnecessary overtime work. In addition, Lotte has designated every Wednesday as ‘A Day for Loving Family’ to encourage employees to leave office on time and enjoy free time with their family.
Joo Jun Sik, Team Leader- Personnel Welfare at Lotte Department Store, says, “We believe that employee-friendly corporate culture leads to outstanding performance. Realizing the balance between work and life will allow employees to more focus on their work and enhance loyalty. Mutual growth and trust between company and employees will help the company to further grow and employees to improve themselves.”