Shin Young-ja, the influential chairwoman of the Lotte Foundation and a pioneering figure in South Korea’s retail industry, passed away on February 21, 2026, at the age of 85. Her death, which occurred at Seoul’s Sinchon Severance Hospital with her children by her side, marks the end of an era for both the Lotte Group and the broader world of Korean business leadership. As the eldest daughter of Lotte Group founder Shin Kyuk-ho, Shin Young-ja’s life was defined by her deep involvement in the family business and her relentless drive to expand its reach.
Born in 1942 to Shin Kyuk-ho and his first wife, No Soon-hwa, Shin Young-ja grew up during a period of rapid change in Korea. Her family’s rise paralleled the country’s own transformation, and from an early age, she was immersed in the world of entrepreneurship and ambition. According to Seoul Finance, Shin joined Hotel Lotte in the 1970s, quickly proving her mettle in a male-dominated corporate environment. She steadily climbed the ranks, ultimately becoming president of Lotte Shopping in 2008, where she played a pivotal role in shaping the group’s retail empire.
Her tenure at Lotte was marked by bold innovation. Shin was instrumental in launching Korea’s very first duty-free shop, a move that would redefine the nation’s retail landscape. Under her leadership, Lotte Hotel, Lotte Department Store, and Lotte Duty Free soared to the top of their respective industries. According to Yonhap News, she was often called the “godmother of the retail sector,” a title earned by her trailblazing work and her ability to anticipate market trends before they became obvious to others.
Shin’s influence extended beyond the boardroom. She served as a registered executive at Lotte Department Store and Lotte Shopping, where she oversaw everything from product planning to brand acquisition. Her hands-on approach and keen eye for detail helped Lotte respond nimbly to changing consumer tastes and the growing demand for luxury goods in Korea. As Chosun Ilbo noted, she was widely regarded as one of the most capable second-generation leaders in the Korean business world, a reputation that was well earned through decades of hard work and strategic vision.
But Shin’s legacy is not without its complexities. In 2015, the so-called “brothers’ feud” erupted between her half-brothers Shin Dong-bin and Shin Dong-joo over control of the Lotte empire. According to Yonhap News, Shin Young-ja attempted to mediate between the two, but the family conflict ultimately spilled into the public eye. The following year, she faced her own challenges when she was indicted and jailed on charges of accepting kickbacks related to store concessions at Lotte’s department stores and duty-free shops. After stepping down as president of Lotte Shopping in 2012, she withdrew from the group’s management and focused her energies on philanthropy and public service.
Even as she distanced herself from the day-to-day operations of Lotte, Shin continued to shape the company’s future through its charitable foundations. In 2009, she became the inaugural chair of the Lotte Samdong Welfare Foundation, and by 2012, she was also leading the Lotte Scholarship Foundation and Lotte Welfare Foundation as their second and third chair, respectively. These roles allowed her to channel her formidable organizational skills into social causes, particularly the nurturing of young talent and support for marginalized communities.
Her commitment to social responsibility was not merely symbolic. The Lotte Foundation, under her stewardship, supported approximately 520,000 individuals with a total of 250 to 260 billion won over four decades, according to Yonhap News and Seoul Finance. Shin was especially devoted to helping youth and disadvantaged groups, and she maintained a special focus on the Ulsan region, her father’s hometown. As the Lotte Foundation stated, “Chairwoman Shin devoted great energy to social contribution projects, especially for nurturing young talent and supporting vulnerable groups, as well as aiding the Ulsan area.”
Shin’s approach to philanthropy was hands-on and personal. She was known for her deep involvement in the foundations’ activities, often working behind the scenes to ensure that resources reached those most in need. Her efforts extended to supporting her own family’s legacy: in 2023, her eldest daughter, Jang Hye-sun, took over as chair of the Lotte Scholarship Foundation and Lotte Samdong Welfare Foundation. Even after passing the baton, Shin remained active behind the scenes, ensuring a smooth transition and continued success for the foundations. The Chosun Ilbo reported that she played a key advisory role, helping her daughter manage the organizations effectively.
In her later years, Shin gradually divested her holdings in Lotte’s core listed companies, including Lotte Holdings, Lotte Shopping, Lotte Confectionery, and Lotte Chilsung Beverage. By 2025, she had completed the sale of all her shares, signaling her retirement from business and her full commitment to public service and family. This move, as reported by Yonhap News, was seen as both a personal choice and a reflection of her desire to support the next generation of leaders within the family and the foundation.
Shin Young-ja’s family includes her son and three daughters, among them Jang Hye-sun, who continues her mother’s work at the Lotte Scholarship Foundation. Her passing has prompted an outpouring of tributes from across the business community, with many recalling her as a mentor, a visionary, and a fierce advocate for women in leadership. Her funeral is being held at the Sinchon Severance Hospital funeral hall in Seoul, in accordance with Lotte Foundation protocols, with her eldest daughter serving as chief mourner. The funeral rites will last three days, and her final resting place will be the Hannam Memorial Park in Gwangju, Gyeonggi Province.
For all her achievements, Shin Young-ja’s story is also one of resilience in the face of adversity. She navigated the highs and lows of family business, survived public scandal, and ultimately left a legacy that extends far beyond the balance sheets of Lotte Group. Her life’s work—both in business and in philanthropy—continues to shape the lives of thousands, a testament to her enduring impact on Korean society.