SEOUL, Jan. 18 (Korea Bizwire) — Lotte Confectionery Co. said Wednesday it will invest 70 billion won (US$56.6 million) in its ice cream making affiliate in India, Havmor Ice Cream Ltd., over the next five years as the confectionery maker tries to strengthen its rapidly growing India business. Lotte Confectionery will build a new 60,000-square-meter [...]
SEOUL, Oct. 28 (Korea Bizwire) – Lotte Confectionery Co., a major South Korean snacks and ice cream maker, said Thursday it is holding a broad promotional campaign in foreign countries like Kazakhstan, Taiwan, the Philippines and Singapore ahead of Pepero Day. Pepero, the brand’s longtime best seller, is a thin cookie stick with an outer [...]
SEOUL, Sept. 6 (Korea Bizwire) – Lotte Confectionery Co., a major South Korean snacks and ice cream maker, said Tuesday it has signed an initial agreement with Canada’s Aspire Food Group as part of its push to tap into the emerging insect protein market. Under a memorandum of understanding inked on Aug. 31, the two [...]
SEOUL, June 18 (Korea Bizwire) — Lotte Confectionery Co., a unit of South Korean conglomerate Lotte Group, announced on Wednesday that it will launch a subscription-based snack service dubbed “Monthly Snack,” the first of its kind in Korea. The new service is based on the concept of the subscription economy, which refers to a business [...]
SEOUL, Aug. 4 (Korea Bizwire) – Despite an unusual heat wave, sales of South Korean ice cream makers fell in July from a year earlier due to a growing market for alternative products, an excessive price war and other factors, industry sources said Thursday. Lotte Confectionery Co., a key food unit of South Korean retail [...]
SEOUL, April 14 (Korea Bizwire) – Banana-flavored snack cakes known as ‘pies’ in Korea are rising as a new ‘hot item’ in the snack market. Lotte Confectionery announced that it sold more than 15 million of its ‘Mon Cher Choco & Banana’ snacks, which it launched in March. The popularity of the product also boosted interest [...]
SEOUL, March 8 (Korea Bizwire) – Lotte Confectionery Co., a food unit that stands at a critical position in the cross-shareholding structure, plans to conduct a 10-for-1 stock split to boost trading among retail investors. According to the Korea Exchange and finance, investment industry, the board of directors of Lotte Confectionery decided to cut the face value [...]
SEOUL, Dec. 9 (Korea Bizwire) – Lotte Confectionery Co., a unit of South Korean retail giant Lotte Group, said Wednesday that Lotte’s Japan operation will increase its stake in the affiliate, a move seen as part of efforts to cement the incumbent group chairman’s grip on the conglomerate amid a succession feud. In a regulatory [...]
SEOUL, Aug. 24 (Korea Bizwire) – Lotte Confectionery, a unit of South Korea’s fifth-largest conglomerate Lotte Group, has been found guilty of copying a Japanese snack maker’s package design, a court ruling said Sunday. The Seoul Central District Court sided with Japan-based Ezaki Glico, which had lodged the suit against the South Korean confectionery firm to [...]