Daejeon: Lotte Group Chairman Shin Dong-bin has received an honorary doctorate degree from the Korea Advanced Institute of Science and Technology (KAIST) in recognition of his contributions to industrial innovation and sustainable social value creation, the group said Thursday.
According to Yonhap News Agency, Shin was awarded the honorary doctorate degree in business administration at a ceremony held Wednesday at KAIST's main campus in Daejeon, some 140 kilometers south of Seoul. KAIST cited Shin's efforts to expand research infrastructure and establish foundations for interdisciplinary studies through industry-academia collaboration with KAIST as a key reason for awarding the honorary degree.
The university also noted that Shin has placed environmental, social, and governance (ESG) principles at the core of Lotte Group's management strategy to pursue sustainable growth. "Integration of technology and management through industry-academia cooperation is no longer an option but a survival strategy," Shin said in his acceptance speech, according to the group. He added that Lotte and KAIST will continue to serve as innovation partners shaping the future together.