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Lotte Scion to Sell Most of Stakes in Key Affiliates

Lotte Scion to Sell Most of Stakes in Key Affiliates

SEOUL, Sept. 12 (Korea Bizwire) – Lotte Group founder Shin Kyuk-ho’s eldest son will sell most of his stakes in the South Korean retail giant’s key affiliates as an objection to the group’s latest decision to set up a holding company, his representatives said Tuesday. Shin Dong-joo, the former vice chairman of Tokyo-based Lotte Holdings, [...]

Retailers Moving Quickly to Allow Employees to Balance Work with Family

Retailers Moving Quickly to Allow Employees to Balance Work with Family

SEOUL, Jul. 18 (Korea Bizwire) — South Korean retailers have moved quickly to create a favorable work environment for expecting and child-rearing mothers, including incentives for fathers, industry observers said Tuesday. Retail businesses have been fast movers in accommodating women who in most cases make up nearly half of their workforces. With the government encouraging [...]

Lotte World Tower Draws Over 10 Million Visitors in 100 Days

Lotte World Tower Draws Over 10 Million Visitors in 100 Days

SEOUL, July 11 (Korea Bizwire) – The number of visitors at the country’s tallest skyscraper built by retail giant Lotte Group has recently topped the 10 million mark, its operator said Tuesday, marking the 100th day of the building’s opening. The 123-story Lotte World Tower, which opened in early April, had a daily average 120,000 visitors, [...]

Lotte CEO to Commute to and from Work in ‘Vertical City’

Lotte CEO to Commute to and from Work in ‘Vertical City’

SEOUL, Jul. 10 (Korea Bizwire) — The CEO of South Korean conglomerate Lotte Group is expected to move into Lotte World Tower in the coming months, shortening his commute to a mere elevator ride, materializing to commute to and from work in a ‘vertical city’ sort of. According to statement from Lotte released on Saturday, Shin [...]

Lotte Shopping’s Cinema Business to be Spun Off Into Separate Company

Lotte Shopping’s Cinema Business to be Spun Off Into Separate Company

SEOUL, June 8 (Korea Bizwire) – Lotte Shopping Co., the retail unit of Lotte Group, said Thursday its cinema department will be hived off later this year, a move it says will boost each unit’s business competitiveness. During a regular board meeting Thursday, the members approved the plan to spin off the company’s cinema business [...]

PyeongChang 2018 to Open 1st Official Shop This Week

SEOUL, May 25 (Korea Bizwire) – The first official shop of the 2018 PyeongChang Winter Games will open in the South Korean capital this week, selling licensed merchandise associated with the international sporting event, local organizers said Thursday. The PyeongChang Organizing Committee for the 2018 Olympic & Paralympic Winter Games (POCOG) said the official merchandise store [...]

Lotte Sees Brand Value Rise Despite THAAD Row

Lotte Sees Brand Value Rise Despite THAAD Row

SEOUL, Apr. 3 (Korea Bizwire) — South Korean retail giant Lotte Group saw its brand value rise in the first quarter of this year despite China’s retaliation against the conglomerate over a controversial missile defense system, a poll showed Sunday. Brandstock, a South Korean market research firm that determines the rankings of local brands, said [...]