Lotte CEO to Commute to and from Work in ‘Vertical City’

According to statement from Lotte released on Saturday, Shin Dong-bin, who currently heads the company, will relocate his office from the company’s South Korean headquarters in Jung District in Seoul to the newly built Lotte World Tower in the Jamsil neighborhood, the tallest building in the country. (Image: Lotte Corporation)

SEOUL, Jul. 10 (Korea Bizwire) — The CEO of South Korean conglomerate Lotte Group is expected to move into Lotte World Tower in the coming months, shortening his commute to a mere elevator ride, materializing to commute to and from work in a ‘vertical city’ sort of.

According to statement from Lotte released on Saturday, Shin Dong-bin, who currently heads the company, will relocate his office from the company’s South Korean headquarters in Jung District in Seoul to the newly built Lotte World Tower in the Jamsil neighborhood, the tallest building in the country.

As Shin is scheduled to move his office to the 18th floor of Lotte World Tower, he also plans to relocate from his current home at the Lotte Castle residential complex in Jongno District to Signiel Residences, high-end residential units in the tower, which also offer hotel services.

“Though the scheduled moving date for his office is July 24, the move could be made a little early. If Shin moves both his home and office to Lotte World Tower, he’ll be commuting ‘vertically’,” q Lotte official said.

Shin is rumored to be moving into the tower’s largest and most luxurious type of two-floor residence, located on one of the top floors, surrounded by floor-to-ceiling windows boasting a 180-degree panoramic view of the South Korean capital.

Given the market value of the residence estimated to be 70 to 80 million won ($68,500) per 3.3 square meters, the overall price is thought to be around 28 billion won.

The CEO of South Korean conglomerate Lotte Group is expected to move into Lotte World Tower in the coming months, shortening his commute to a mere elevator ride. (Image: Lotte Corporation)

With Lotte World Tower offering a variety of features ranging from residences, offices and hotels to shopping malls, it is possible for residents to meet most of their needs without having to leave the skyscraper.

Ashley Song (ashley@koreabizwire.com)