Shin Dong-bin, Chung Yong-jin Spotted in Gyeongju Amid 11st Ownership Change

Shin Dong-bin and Chung Yong-jin Spotted at Gyeongju APEC Summit, Attention Focuses on Their Next Moves After 11st Acquisition

Lotte Group Chairman Shin Dong-bin and Shinsegae Group Chairman Chung Yong-jin were seen together at the '2025 APEC Summit' held in Gyeongju, North Gyeongsang Province, starting on the 29th, drawing attention from the business community. With major figures from the global industry attending the APEC Summit, there is keen interest in what business discussions the two chairmen will have. Furthermore, with SK Planet's recent decision to acquire 100% of 11st's shares, a shake-up in the retail industry is anticipated, making the meeting between Chairman Shin Dong-bin and Chairman Chung Yong-jin even more significant. As Lotte and Shinsegae are leading companies that have been fiercely competing in the domestic retail market, there is speculation about the possibility of exploring a new cooperative relationship through this APEC Summit. Industry attention is particularly focused on how Lotte and Shinsegae will reorganize their respective retail strategies after the 11st acquisition. As both companies are focusing on strengthening their online platforms, the industry is closely watching how the 11st acquisition will affect the future competitive landscape of the retail market. In addition, with major food companies participating in the APEC Summit and focusing on K-food marketing, Lotte and Shinsegae are also likely to be considering new strategies in the food business sector. Chairman Shin Dong-bin and Chairman Chung Yong-jin are expected to meet with representatives of various global companies during the APEC Summit to discuss business cooperation plans.

The '2025 APEC Summit' is not only focusing on K-food marketing but also on showcasing South Korea's advanced technology to the world. U.S. President Donald Trump emphasized that "Korea is a precious friend and ally of the United States" in his opening speech at the APEC CEO Summit, reaffirming the strong cooperative relationship between the two countries. In addition, the U.S. and South Korea signed a 'U.S.-Korea Technology Prosperity MOU' to strengthen cooperation in future high-tech fields such as artificial intelligence (AI), next-generation communications, bio, quantum, and space, laying the foundation for securing future industrial competitiveness. Lotte and Shinsegae are also expected to develop new business models using advanced technology and expand their global market presence in line with the government's policy direction. Innovative attempts are expected in various fields, such as providing customized services using artificial intelligence technology and building logistics systems based on next-generation communication technology. Efforts to discover new growth engines, such as developing health functional foods in connection with the bio industry and strengthening security systems using quantum technology, are also expected to continue. Chairman Shin Dong-bin and Chairman Chung Yong-jin are likely to meet with global leaders in these advanced technology fields during the APEC Summit to explore cooperation plans and pursue strategic alliances to secure future growth engines.

SK Planet's acquisition of 11st shares is expected to act as an important variable that can shake up the domestic retail market beyond a simple corporate merger and acquisition. In particular, Lotte and Shinsegae are expected to re-examine their respective online platform strategies and accelerate competition to discover new growth engines as a result of the 11st acquisition. Lotte is strengthening its online business centered on Lotte On, and Shinsegae is targeting the premium online shopping market through SSG.com. The acquisition of 11st can have a significant impact on these two companies' online platform strategies and further complicate the future competitive landscape of the retail market. In addition, the acquisition of 11st is expected to have a significant impact not only on Lotte and Shinsegae but also on other retail companies. In particular, to survive in the competition with large online platforms such as Coupang and Naver, each company is expected to make various efforts, such as establishing differentiated strategies and introducing new technologies. As such, SK Planet's acquisition of 11st's shares is causing a major ripple effect in the domestic retail market and is expected to make the future competitive landscape of the retail market even more fierce.

Meanwhile, South Korean President Lee Jae-myung is focusing on enhancing South Korea's status and strengthening global leadership through this '2025 APEC Summit'. In particular, he is striving to achieve practical results by further strengthening the U.S.-Korea alliance and discussing economic cooperation plans through bilateral talks with U.S. President Donald Trump. In addition, he is focusing on strengthening South Korea's diplomatic position and seeking cooperation on global issues through a series of talks with APEC member state leaders. In particular, he is emphasizing South Korea's active role in solving global common problems such as climate change, pandemic response, and digital transformation, and is focusing on strengthening cooperation with the international community. President Lee Jae-myung is expected to make efforts to promote South Korea's cultural charm to the world and revitalize the tourism industry through various cultural events during the APEC Summit. In addition, he is expected to listen to the difficulties of companies through dialogue with the APEC Business Advisory Council (ABAC) and promise policy support for attracting investment, continuing efforts to revitalize the economy. As such, President Lee Jae-myung is making every effort to enhance South Korea's economic and diplomatic status and strengthen global leadership through the '2025 APEC Summit'.

The attendance of Lotte Group Chairman Shin Dong-bin and Shinsegae Group Chairman Chung Yong-jin at the Gyeongju APEC Summit can be interpreted as an important event that foreshadows changes in the domestic retail market, rather than a simple coincidental meeting. In particular, with the emergence of the variable of SK Planet's acquisition of 11st's shares, Lotte and Shinsegae have been tasked with re-examining their respective online platform strategies and discovering new growth engines. This APEC Summit is expected to be an important opportunity to find clues to solve these tasks and explore cooperation plans with global companies. In addition, with the addition of positive factors such as South Korean President Lee Jae-myung's active diplomatic activities and the signing of the U.S.-Korea Technology Prosperity MOU, Lotte and Shinsegae are expected to more actively pursue global market entry and focus on securing future growth engines. In the end, the attendance of Chairman Shin Dong-bin and Chairman Chung Yong-jin at this APEC Summit is expected to be an important opportunity to change the competitive landscape of the domestic retail market and create new business opportunities. Attention is focused on what results Lotte and Shinsegae will achieve through this APEC Summit and what changes they will bring to the retail market in the future.