SEOUL, Mar. 9 (Korea Bizwire) — Lotte Corp., the holding company of South Korean retail giant Lotte, said Friday it will continue to make major investments in Vietnam, as its head met with the country’s premier to seek support for the company’s various ongoing projects in the Southeast Asian country.
During his meeting with Prime Minister Nguyen Xuan Phuc in Hanoi, Hwang Kag-gyu explained the company’s businesses in Vietnam and discussed ways to expand the firm’s investment and cooperation with the country, it said.
“Lotte will continue to grow with Vietnam through investments in various business sectors, job creation and social contribution activities,” Hwang told the prime minister, according to Lotte.
The company has been making aggressive inroads into Vietnam, with a plan to open a massive shopping complex in Hanoi by 2020.
It is also pushing to establish a Lotte complex with malls, offices and a residential area in Ho Chi Minh City.
Lotte is South Korea’s fifth-largest conglomerate, with sprawling businesses ranging from retail to construction and chemicals. The company said 16 Lotte affiliates have a presence in Vietnam with some 11,000 employees.