Shin Dong-bin, chairman of Lotte Group, received an honorary doctorate in business administration from the Korea Advanced Institute of Science and Technology (KAIST) in recognition of his contributions to science and technology-based industrial innovation and the creation of sustainable social value, the conglomerate said Thursday. “The convergence of technology and management through industry-academia cooperation is no longer an option but a survival strategy,” Shin said at the conferment ceremony held Wednesday at KAIST in Daejeon. “As innovation partners designing the future together, Lotte and KAIST hope that our journey will lead to innovations that make the world a better place.” KAIST President Lee Kwang-hyung said Shin has presented a new role for corporations by connecting science and technology, industry and social value through responsible management. “The honorary degree recognizes his contributions to expanding research infrastructure and establishing a foundation for interdisciplinary research through cooperation with KAIST,” Lee said. KAIST cited Shin’s emphas