SEOUL, May 10 (Korea Bizwire) — Lotte Department Store has announced that it will open an experiential store at Lotte World Mall this Saturday in collaboration with the local sporting goods company Tennis Metro. Unlike traditional stores that focus mainly on product sales, this store will be located on the mall’s third floor and will [...]
SEOUL, April 12 (Korea Bizwire) — Lotte Shopping Co. said Wednesday it will exhibit an installation from renowned Japanese architect Kengo Kuma at its high-end department store in southern Seoul starting this week. The artwork, titled SU:M, will be on display at Lotte AVENUEL, the retailer’s luxury-brand department store, for the next five months starting [...]
SEOUL, March 29 (Korea Bizwire) — Lotte Home Shopping Inc., a shopping unit of retail conglomerate Lotte, said Tuesday it is joining hands with its bear mascot “Bellygom” to hold public exhibitions at Seoul’s major landmarks. The company will host the Amazing Bellygom Happy B-DAY event at Lotte World Tower’s main square from April 1-23. [...]
SEOUL, Dec. 22 (Korea Bizwire) — South Korean conglomerate Lotte Group said Thursday it will share its new growth engines at the Consumer Electronics Show (CES) in Las Vegas early next month. Lotte Data Communication Co., the IT solutions developing arm of Lotte, will showcase its hyper-reality metaverse service at the event’s central hall, where [...]
SEOUL, Dec. 8 (Korea Bizwire) — Lotte ON, an online shopping website running by the retail arm of Lotte Group, said Wednesday it will release an upcycled replica of the rubber duck that was put up for exhibition in Seokchon Lake in Seoul’s Songpa Ward in October. This project aims to recycle the rubber duck made with [...]
SEOUL, Nov. 24 (Korea Bizwire) — Lotte Group is quickly responding to the liquidity squeeze of its construction unit amid concerns that the construction unit’s liquidity problem, caused by the recent bond market crunch, could spill over to other parts of the group. Lotte Engineering & Construction Co. carried out a 200 billion won (US$149 [...]
SEOUL, May 13 (Korea Bizwire) — South Korea’s Lotte Group decided Friday to buy U.S. drug firm Bristol Myers Squibb (BMS)’s pharmaceutical factory in Syracuse, New York, for $160 million. Lotte’s board of directors approved the deal, which also includes BMS’s contract manufacturing agreements to produce medicine worth $220 million over the next three years. [...]
SEOUL, April 13 (Korea Bizwire) — South Korea’s top two retailers — Shinsegae Group and Lotte Group — are going beyond retail to jump into the whisky and wine markets, which have been seeing rapid growth since the onset of the COVID-19 pandemic. Lotte Chilsung Beverage Co. announced in a report released early this year [...]
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 [...]
SEOUL, Jan. 21 (Korea Bizwire) — Lotte Corp., the holding company of South Korean retail giant Lotte Group, said Friday it has acquired an entire stake of Ministop Korea Co. for 313.37 billion won (US$263 million). Under the deal, Lotte will take over 2,600 Ministop convenience store outlets across the country and 12 logistics centers [...]