Lotte Group has announced a significant leadership reshuffle as part of its strategy to enhance global competitiveness. As of December 11, Lotte Biologics will appoint a new CEO with expertise in biopharmaceuticals, marking a pivotal step for the company’s growth in the contract development and manufacturing organization (CDMO) market.

In its 2025 executive appointments announced on November 28, Lotte Group stated that the incoming CEO, an international expert in biopharmaceuticals, is expected to leverage global networks and CDMO expertise to strengthen business capabilities and drive expansion in biopharmaceutical contracts.

A Lotte Group representative told Hit News, “The specific candidate for the role has not yet been finalized.” The appointment will also see founding CEO Won-jik Lee stepping down. Regarding Lee’s future plans, a company spokesperson commented, “Details about his next steps are unknown.” Until a new CEO is officially appointed, Tae-hyung Im, Head of Business Support and newly promoted Senior Vice President, will serve as acting CEO.

Since acquiring Bristol-Myers Squibb’s biopharmaceutical manufacturing facility in Syracuse, New York, in December 2022, Lotte Biologics has established itself as a competitive player in the biopharmaceutical CDMO sector.

The company is also advancing its manufacturing capabilities in South Korea. In July, it broke ground for its Bio Campus Plant 1 in Songdo International City, Incheon, with plans to commence commercial production in 2027. The $3.3 billion project spans 202,285.2 m² and will include three manufacturing plants along with supporting facilities.

In related developments, Yoo-yeol Shin, the eldest son of Lotte Group Chairman Dong-bin Shin, was promoted to Executive Vice President. As Head of Global Strategy for Lotte Biologics, his expanded responsibilities are anticipated to inject further momentum into the company’s bio industry ambitions.