Lotte Co., Ltd. (ロッテ, ) is a multinational food, chemicals and shopping corporation with headquarters in South Korea and Japan. Lotte was first established in June 1948 in Tokyo, by Takeo Shigemitsu (also known as Shin Kyuk-ho). With the money he earned in Japan, Shin expanded to his home country, South Korea with the establishment of Lotte Confectionery in Seoul on April 3, 1967. Lotte eventually grew to become South Korea's eighth largest business conglomerate.