Lotte Wellfood held its ninth annual general meeting of shareholders at its headquarters in Seoul on Thursday, it said. Shareholders representing 88.3 percent of voting shares attended. The meeting appointed CEO-designate Seo Jeong-ho as a new inside director. The company said it plans to accelerate global expansion and strengthen competitiveness, focusing on India by expanding Choco Pie capacity and stabilising its new Pune plant.

Lotte Group Chairman Shin Dong-bin on Thursday urged employees to pursue growth and innovation, saying this year’s business environment demands structural improvement in the group’s core businesses. He cited high inflation, high interest rates and a weak currency, as well as geopolitical risks and demographic change. Shin called for differentiated results based on autonomy and proactive responses to change, including embedding AI as a key competitive strength. He also said innovation has not yet produced visible results and urged stronger execution.