Shin Kyuk-ho’s Entrepreneurial Spirit as Lotte Founder Revisited at the World Congress of Business History
Introduced by Professor Baek Insoo of Osaka University of Economics at the 2026 World Congress of Business History
Analyzing Lotte's Growth Foundation through the Concept of "Boundless Advantage"
A study that sheds new light on the entrepreneurial spirit of Shin Kyuk-ho, founder of Lotte, from a new management perspective was presented at the World Congress of Business History.
On August 3, Lotte announced that a study on the founder Shin’s entrepreneurial spirit was introduced at the '2026 World Congress of Business History' held in Toronto, Canada, on July 30. The World Congress of Business History is an international academic conference where management history researchers from North America, Europe, Japan, and other countries gather every four years to share their research achievements.
The presentation was given by Baek Insoo, professor at Osaka University of Economics, under the theme of “Boundless Advantage: A Dynamic Study of the Entrepreneurial Journey of Lotte Founder Shin Kyuk-ho Across Borders.” Following his 2023 research into the founder’s entrepreneurial spirit, Professor Baek reinterpreted Shin's management philosophy this year with a particular focus on the concept of “boundless advantage.”
'Boundless advantage' refers to the ability to convert knowledge and resources accumulated by transcending various borders—including those of countries, industries, and organizations—into new growth engines. The research divides Shin’s life into four phases: early adulthood, early and late middle age, and senior years, and analyzes the challenges he faced and how he overcame them during each period. In particular, the study evaluated that Shin’s experiences across literature, politics, industry, and organizations served as the foundation for Lotte’s growth.
The study also suggested implications of Shin's entrepreneurial spirit for today's business leaders. It emphasized the importance of continually learning expertise beyond traditional boundaries and integrating it into organizations, nurturing future talent with a long-term perspective, and demonstrating leadership by boldly delegating authority while taking responsibility for final decisions.
A discussion among participating researchers followed the presentation. Professor Krautcher of the University of Graz in Austria requested sharing of the presentation materials and noted the need to expand the research into an international joint study by comparing Shin's entrepreneurial case to transnational entrepreneurship in other countries.
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Professor Baek Insoo stated, “The entrepreneurial spirit of founder Shin Kyuk-ho provides a model for sustainable growth even for today’s entrepreneurs,” and added, “Even in the era of AI, it is crucial to continuously seek new opportunities, nurture outstanding talent, and pursue an entrepreneurial spirit that contributes to society and the future.”
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