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Lotte to Invest 50 Tln Won, Create 70,000 New Jobs in Next 5 Years

Lotte to Invest 50 Tln Won, Create 70,000 New Jobs in Next 5 Years

SEOUL, Oct. 23 (Korea Bizwire) — Lotte Group said Tuesday it will invest 50 trillion won (US$44 billion) and create 70,000 new jobs in the next five years in its first major business decision after its chief returned to the helm of South Korea’s fifth-largest conglomerate. Lotte Corp., the business group’s holding firm, said that [...]

Lotte Unveils ‘Hand-pay’ Robot for 7-Eleven

Lotte Unveils ‘Hand-pay’ Robot for 7-Eleven

SEOUL, Aug. 28 (Korea Bizwire) — Korea Seven Co., the operator of convenience store chain 7-Eleven in South Korea, on Tuesday unveiled a robot that allows customers to pay with their hands as local retailers accelerate their move to take the lead in next-generation retail models using the latest technologies. The robot, dubbed Veny, was [...]

S. Korean Retailers Beef Up Marketing Efforts to Lure Chinese Consumers

S. Korean Retailers Beef Up Marketing Efforts to Lure Chinese Consumers

SEOUL, Aug. 16 (Korea Bizwire) — South Korean retailers are accelerating efforts to attract more Chinese consumers, companies said Thursday, as they strive to recover from the fallout from the diplomatic row between Seoul and Beijing over the stationing of a U.S. anti-missile system. Lotte Duty Free, South Korea’s No. 1 duty-free operator, said it [...]

Lotte Set to Launch New Department to Boost E-commerce Business

Lotte Set to Launch New Department to Boost E-commerce Business

SEOUL, Jul. 30 (Korea Bizwire) — South Korea’s retail giant Lotte said Monday a new department in charge of the business group’s online businesses is set to be launched this week as the conglomerate revs up efforts to cope with the rapid expansion of the country’s online market. Earlier in May, Lotte unveiled the plan [...]

Lotte Unifies Fashion Businesses, Launches New Apparel Arm

Lotte Unifies Fashion Businesses, Launches New Apparel Arm

SEOUL, May 31 (Korea Bizwire) — South Korean retail giant Lotte on Thursday said it has unified the management of its scattered fashion businesses under the group’s apparel affiliate to secure competitiveness in the local fashion industry. Lotte Shopping Co., the operator of the conglomerate’s department store chain, said shareholders of its fashion business unit [...]

Running a Marathon in Style

Running a Marathon in Style

SEOUL, May 28 (Korea Bizwire) — Lotte Group’s shopping business arm hosted its second Lotte Style Run yesterday at Ttukseom Hangang Park in Gwangjin-gu, Seoul. In a departure from other running races, the Style Run asks participants to wear their own outfits and costumes befitting their personal style. A total of 4,000 runners took part [...]

Lotte to Spend 3 tln Won on Boosting E-commerce Business

Lotte to Spend 3 tln Won on Boosting E-commerce Business

SEOUL, May 15 (Korea Bizwire) — South Korea’s retail giant Lotte said Tuesday it will inject 3 trillion won (US$2.84 billion) into the conglomerate’s e-commerce business in the next five years to cope with the rapid expansion of the country’s online market. As part of its plan, Lotte Shopping Co. said eight online malls that [...]