Lotte Mart Archives | Be Korea-savvy
S. Koreans Overtake Chinese to Rank First Among Visitors to Japan

S. Koreans Overtake Chinese to Rank First Among Visitors to Japan

SEOUL, April 2 (Korea Bizwire) — Japan has been a beneficiary of the strained national ties between South Korea and China over the installation of a U.S. defense missile system (THAAD), with South Korean tourists more inclined to spend their days off in the island nation rather than an unfriendly China.  From January until February, [...]

Premium Supermarkets Growing Rapidly Despite Rising Cost of Living

Premium Supermarkets Growing Rapidly Despite Rising Cost of Living

SEOUL, Mar. 19 (Korea Bizwire) — Despite the rising cost of living in South Korea, premium supermarkets are quickly gaining popularity among high-income earners, with a focus on quality over quantity. The popularity of premium products as a recent retail industry trend has inspired a number of supermarket chains including E-Mart and Lotte Mart, as market [...]

Lotte’s Hypermarket Chain to Stop Selling Cigarettes from Next Year

Lotte’s Hypermarket Chain to Stop Selling Cigarettes from Next Year

SEOUL, Dec. 14 (Korea Bizwire) — Lotte Mart, the third-largest discount store chain in South Korea by revenue, said Thursday that it will stop selling cigarettes next year as it is pushing to specialize in healthy products. Lotte Mart CEO Kim Jong-in said the decision is part of his company’s commitment to transform itself into [...]

South Koreans Frustrated Over Arbitrary Retail Regulations

South Koreans Frustrated Over Arbitrary Retail Regulations

SEOUL, Oct. 17 (Korea Bizwire) — Criticism of the government continues among South Korean consumers over arbitrary retail regulations that are causing inconvenience and discouraging local consumption despite their original intention of creating a business environment where both traditional markets and retail giants could coexist. With the rapid growth of supermarket giants, mandatory store closings [...]