SEOUL, May 24 (Korea Bizwire) — South Korean retail giant Lotte Group said Tuesday it will invest 37 trillion won (US$29.2 billion) over the next five years to expand its businesses to bio and mobility, and further bolster its key chemicals and retail sectors. Lotte plans to spend 41 percent of the earmarked investment in [...]
SEOUL, Jan. 19 (Korea Bizwire) — Shin Kyuk-ho, founder and honorary chairman of South Korean retail giant Lotte Group, died on Sunday of a chronic illness, the group said. He was 99. Shin died at about 4:30 p.m. at Asan Medical Center in eastern Seoul, the group said in a statement Lotte, which started as [...]
SEOUL, Dec. 4 (Korea Bizwire) — South Korea’s retail giant Lotte Group is considering expanding investment in Vietnam, industry sources said Tuesday. According to the observers, Lotte Group Chairman Shin Dong-bin met Hanoi’s Chairman of the People’s Committee Nguyen Duc Chung on Tuesday and insisted that the conglomerate is open to expanding investment in the [...]
SEOUL, Nov. 8 (Korea Bizwire) — A significant portion of the empty office space currently available at Lotte World Tower will soon be taken up by the company’s subsidiaries. By doing so, Seoul’s newest landmark building is expected to lower its vacancy levels from the current 60 percent to 30 percent. According to an announcement [...]
SEOUL, Oct. 8 (Korea Bizwire) — The head of South Korea’s fifth-largest conglomerate, Lotte, returned to work on Monday after an appeals court suspended his sentence on bribery charges, releasing him from prison. Lotte Group Chairman Shin Dong-bin was briefed by Vice Chairman Hwang Kag-gyu and other executives during a weekly meeting over pending issues [...]
SEOUL, Dec. 7 (Korea Bizwire) — South Korean retail giant Lotte faces a bumpy road as it moves to adopt a holding company system even though it has sharply cut the number of units that own one another, industry sources said Thursday. In early October, Lotte established the holding firm, Lotte Corp., in a bid [...]
SEOUL, Dec. 1 (Korea Bizwire) — South Korean retail giant Lotte Group said Friday that it has purchased a hotel and farm in Russia as it seeks to tap deeper into the overseas markets. Hotel Lotte, the lodging and accommodation arm of South Korea’s fifth-largest conglomerate with sprawling businesses in food, retail and construction, bought [...]
SEOUL, Nov. 9 (Korea Bizwire) — Lotte Group’s giant construction project in Shenyang, China, could resume this month after a year of suspension as China pulls back on its retribution over a U.S. anti-missile defense system being deployed in South Korea, corporate sources said Thursday. Ambassador Noh Young-min, South Korea’s new envoy to Beijing, who [...]
SEOUL, Nov. 1 (Korea Bizwire) — Lotte Group, a conglomerate whose affiliates sprawl from supermarkets to duty-free stores and construction, is hoping for a big comeback in its China business after suffering major losses resulting from a Seoul-Beijing diplomatic spat, corporate insiders said Wednesday. Seoul and Beijing announced a day earlier that they will make [...]
BEIJING/SEOUL, Sept. 14 (Korea Bizwire) – Lotte Group has begun work to sell its discount store chain in China, company officials and an industry source said Thursday, as China steps up its retaliation against the South Korean retail giant due to its support for an advanced U.S. missile defense system. According to the sources, Lotte [...]