Shin Young-ja, the eldest daughter of Lotte Group’s founder and a pioneering force in South Korea’s retail industry, passed away on February 21, 2026, at the age of 85. Surrounded by her children, Shin died at Seoul’s Sinchon Severance Hospital, closing the final chapter on a life intertwined with the meteoric rise of one of Asia’s most recognizable conglomerates. Her passing marks the end of an era for Lotte and the broader Korean business landscape.
According to Chosun Ilbo, Shin Young-ja was not just the daughter of Shin Kyuk-ho, Lotte’s late honorary chairman; she was a driving force behind the company’s transformation into a retail powerhouse. From her early days at Hotel Lotte in the 1970s, Shin steadily climbed the ranks, culminating in her appointment as president of Lotte Shopping in 2008. In that role, she steered the growth of Lotte Department Store and Lotte Duty Free, cementing their status at the top of their respective industries. Her efforts didn’t go unnoticed—she was often called the “godmother of retail” in Korea, a nod to her trailblazing achievements in a sector long dominated by men.
Shin’s influence extended well beyond boardrooms and balance sheets. As reported by Seoul Finance and Yonhap News, she was instrumental in introducing Korea’s first duty-free stores, a move that revolutionized the nation’s approach to tourism and shopping. Her vision helped Lotte Duty Free become a market leader, attracting international travelers and setting a standard for competitors to follow.
Born in 1942 to Shin Kyuk-ho and the late Noh Soon-hwa, Shin Young-ja was part of the so-called “second generation” of Lotte leadership. Her upbringing in a family at the helm of a burgeoning business empire shaped her ambitions and work ethic. After joining Lotte in the 1970s, she quickly proved her mettle, earning respect both inside and outside the company. Industry insiders frequently remarked on her sharp business acumen and her ability to navigate the challenges of Korea’s rapidly evolving retail landscape.
Shin’s legacy, however, is not limited to corporate success. She was deeply committed to social responsibility, a thread that ran through much of her later life. In 2009, she became the inaugural chair of the Lotte Samdong Welfare Foundation, and by 2012, she was serving as the second and third chair of the Lotte Scholarship Foundation and Lotte Welfare Foundation, respectively. As noted by Chosun Ilbo and Yonhap News, these roles allowed her to expand the company’s philanthropic footprint, focusing on nurturing young talent, supporting marginalized communities, and giving back to her father’s hometown of Ulsan.
“Shin devoted great energy to social contribution projects,” the Lotte Foundation stated, highlighting her special affection for youth development and aid for vulnerable groups, as well as her commitment to regional support in Ulsan. The foundation’s impact over the past four decades has been substantial—according to Seoul Finance, it has supported approximately 520,000 individuals with a total of 260 billion won in aid.
In recent years, Shin began to step back from direct management of Lotte’s core businesses. According to Yonhap News, she sold most of her shares in key affiliates such as Lotte Holdings, Lotte Shopping, and Lotte Chilsung Beverage, signaling a shift in focus from corporate leadership to foundation work. This transition was not just about succession; it was a deliberate choice to channel her remaining energy into causes she held dear.
Family remained central to Shin’s life. She leaves behind one son and three daughters, including Jang Hye-sun, who currently serves as chair of the Lotte Scholarship Foundation. In 2023, Jang Hye-sun took up leadership roles in both the Lotte Scholarship Foundation and the Lotte Samdong Welfare Foundation, with Shin providing guidance to ensure a smooth transition and continued success. This careful planning reflects Shin Young-ja’s commitment to continuity—not only for her family but for the philanthropic endeavors she championed.
The news of Shin’s passing has prompted an outpouring of tributes from business leaders and former colleagues. Many have pointed to her unique position as both a daughter of a founder and a leader in her own right. As Chosun Ilbo observed, Shin was “regarded both domestically and abroad as an exceptionally capable second-generation business leader.” Her career, spanning from the launch of Korea’s first duty-free shops to the expansion of Lotte’s welfare initiatives, has left a mark that few can match.
Her funeral is being held over three days at the Sinchon Severance Hospital funeral hall, under the auspices of the Lotte Foundation. The ceremony is being led by her eldest daughter, Jang Hye-sun, as chief mourner. The burial is scheduled for the morning of February 23 at Hannam Park Cemetery in Gwangju, Gyeonggi Province—a peaceful resting place for a woman who spent her life in the whirlwind of business and social change.
For many in Korea, Shin Young-ja’s story is emblematic of the country’s postwar economic miracle. She was there at the inception, helping her father build Lotte from a single confectionery business into a sprawling conglomerate. She witnessed—and shaped—the transformation of Korean retail, not just through innovation and expansion, but by setting standards for ethical leadership and social responsibility.
Even as she distanced herself from the day-to-day affairs of Lotte’s core companies in her later years, Shin remained a guiding presence. Her advice and support for her daughter and other foundation leaders ensured that the company’s philanthropic missions would continue to grow and adapt to changing times. According to Seoul Finance, Shin’s involvement was crucial in maintaining the foundations’ effectiveness and reach, especially after her daughter assumed leadership roles.
Shin’s passing leaves a void not only in her family but also in the broader Lotte community and the industries she helped shape. Her life serves as a reminder that business success and social responsibility can—and should—go hand in hand. The thousands who benefitted from her foundations, the employees who looked up to her, and the countless shoppers who walked through Lotte’s doors may never know the full extent of her influence, but her legacy endures in the institutions and values she leaves behind.
As the funeral rites conclude and Shin Young-ja is laid to rest, her story continues to inspire those who believe that leadership is about more than profit—it’s about making a lasting difference in the world around you.