Lotte Archives | Be Korea-savvy
Regulator OKs Convenience Store Operator Korea Seven’s Takeover of Ministop

Regulator OKs Convenience Store Operator Korea Seven’s Takeover of Ministop

SEOUL, March 22 (Korea Bizwire) — South Korea’s antitrust regulator said Tuesday it has decided to approve a deal by Korea Seven Co., the operator of 7-Eleven convenience stores, to buy its smaller rival Ministop Korea Co. In January, the country’s retail giant Lotte inked a deal to acquire a 100 percent stake in Ministop [...]

Lotte, Shilla Bid for Airport Duty-free in Singapore

Lotte, Shilla Bid for Airport Duty-free in Singapore

SEOUL, Aug. 27 (Korea Bizwire) — South Korea’s two leading duty-free operators have bid for the right to sell cigarette and liquor products at Singapore’s Changi Airport, an industry tracker said Tuesday. No. 1 Lotte Duty Free and second-largest Shilla Duty Free submitted their bids to operate tobacco and liquor concessions at Changi’s four terminals [...]

Retail Giants Evolving After Learning Hard Lessons from E-commerce Rivals

Retail Giants Evolving After Learning Hard Lessons from E-commerce Rivals

SEOUL, Jun. 18 (Korea Bizwire) — It is hard for consumers to live without online and mobile shopping, and for retailers already struggling with a slump in store traffic and the subsequent fall in direct to consumer sales, living up to the trend may be pronounced in the face of cutthroat competition with a slew [...]

Lotte Tapping Deeper into Southeast Asia, Advanced Markets

Lotte Tapping Deeper into Southeast Asia, Advanced Markets

SEOUL, May 28 (Korea Bizwire) — Retail and chemical giant Lotte Group is ramping up efforts to tap deeper into Southeast Asia and advanced economies amid falling sales in China, once its biggest overseas market, industry sources said Tuesday. Overseas sales of the conglomerate came to 8.9 trillion won (US$7.49 billion) in 2018, up 7.2 [...]