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Lotte Founder Loses Last Remaining Board Seat from Affiliate

Lotte Founder Loses Last Remaining Board Seat from Affiliate

SEOUL, Aug. 9 (Korea Bizwire) – The founder of South Korean retail giant Lotte lost his last remaining board member seat at the affiliate of the conglomerate, effectively leaving the management scene, the business group said Wednesday. The board of directors of Lotte Aluminum Co., a packaging material firm, decided not to extend the term [...]

Lotte Units Suffer Earnings Setbacks on THAAD Fallout

Lotte Units Suffer Earnings Setbacks on THAAD Fallout

SEOUL, Aug. 3 (Korea Bizwire) — Subsidiaries of South Korean retail giant Lotte Group saw their earnings tumble in the second quarter, data showed Thursday, stung by China’s retaliation over Seoul’s decision to deploy an advanced U.S. missile defense system. In early March, Lotte agreed with the Seoul government to swap its golf course in [...]

Korea’s Homeshopping Enlists Help of Comedians, YouTube Stars

Korea’s Homeshopping Enlists Help of Comedians, YouTube Stars

SEOUL, June. 21 (Korea Bizwire) — With the advent of technology, South Korean shopping channels as we know them are in for a dramatic makeover.  The massive conglomerates behind many of these channels are increasingly tapping comedians and internet stars to be the face of their sales broadcasts through digital platforms. One industry powerhouse leading the [...]

Lotte Determined to Succeed in Chinese Market Despite THAAD Row

Lotte Determined to Succeed in Chinese Market Despite THAAD Row

SEOUL, June 7 (Korea Bizwire) – South Korean retail giant Lotte will not be abandoning its businesses in China, which have been reeling from apparent retaliation after the company provided the South Korean government with land for a new THAAD anti-missile system.  A Lotte official in China said Wednesday that “there is no change in [...]

No End in Sight for Lotte’s Mounting Losses in China over THAAD Row

No End in Sight for Lotte’s Mounting Losses in China over THAAD Row

SEOUL, May 7 (Korea Bizwire) – Lotte Group is facing huge losses as its outlets in China have remained closed for about two months over Beijing’s apparent retaliation against the deployment of an advanced U.S. missile defense system in South Korea, according to group officials Friday.  Chinese authorities ordered Lotte to close its stores following [...]