“We shouldn’t hold back investment on the future even when business conditions are not bright. We have to find the momentum for growth by thoroughly preparing for trend changes.” – Lotte Group Korea chairman Shin Dong-bin SEOUL, Feb. 15 (Korea Bizwire) — Lotte Group, whose affiliates include retail, construction, chemicals and tourism, said [...]
SEOUL, Jan. 20 (Korea Bizwire) – As the growth of existing distribution channels such as department stores and big box discount stores reaches its limit, Korean retailers are rushing to open duty-free shops in an attempt to find new sources of revenue. According to industry experts, with the government planning to set up four more large-scale [...]
SEOUL, Jan. 20 (Korea Bizwire) — Samsung Electronics Co., South Korea’s largest firm by market value, has been considering splitting its stock to lower the high price tag of its shares but will look more into the long-term effect before making any decision, a senior executive said Tuesday. “(Samsung Electronics) has been looking into whether [...]
SEOUL, Jan. 16 (Korea Bizwire) — When it comes to buying stocks in South Korea’s family-run conglomerates, reading numbers on balance sheets may not be enough to predict their performance. What the owner family does often matters more. As several of such business groups, called chaebols locally, are preparing for managerial transfers to the third [...]
SEOUL, Jan. 8 (Korea Bizwire) – Angel-in-us Coffee, a coffee chain from the Korean-Japanese conglomerate Lotte Group, is proceeding with a special event where coffee prices are discounted or increased depending on a customer’s politeness when ordering. In the event “Warm-hearted Word – Call My Name,” to be held on the first Wednesday of every [...]
SEOUL, Jan. 5 (Korea Bizwire) – Any occurrence of additional safety accidents will lead to the shutdown of Lotte Group’s new skyscraper in the southern district of Jamsil, the city of Seoul warned Monday, after a series of safety problems escalated concerns over the recently-opened shopping complex. The retail giant opened the completed lower parts [...]
SEOUL, Nov. 7 (Korea Bizwire) – Pushed by poor credit ratings by international rating agencies, Lotte Shopping plans to accelerate the process of improving its financial standing by selling retail properties. According to retail industry sources, Lotte Shopping, retail operator of Lotte Group, is in talks with Capstone Asset Management, an asset management firm specializing in [...]
SEOUL, Sept. 4 (Korea Bizwire) – The Seoul metropolitan city government said on September 3 that it would determine whether to fully open the lower floors of the second Lotte World building in Seoul’s Jamshil after tentatively allowing a ten-day “pre-open” period. During the period, groups of citizens will visit the building to see whether the building is [...]
SEOUL, Aug. 29 (Korea Bizwire) — After five years since its groundbreaking, “Lotte Center Hanoi,” the 272-meter-high skyscraper in Hanoi constructed by Lotte Group, is finally ready for grand opening on Vietnam’s National Liberation Day, September 2. According to Lotte Asset Development on August 27, what will be the landmark of Vietnam’s capital city with 14,000 square [...]
![[Quote] CEO of Lotte Group to Spearhead Retail Giant’s Global Push](http://koreabizwire.com/wp/wp-content/uploads/2014/08/Lotte-Vice-Chairman-Shin-Dong-bin.jpg "[Quote] CEO of Lotte Group to Spearhead Retail Giant’s Global Push")
“To keep up with ever-changing consumer demands, we should harness the omni-channel strategy, with which we can seek for an opportunity to grow continuously.” “As Lotte Group has been a multi-channel retailing brand, we should put forth our utmost efforts to get over the limitations we are faced with. We ought to get a grasp [...]