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Statue of Goethe Erected in Seoul

Statue of Goethe Erected in Seoul

SEOUL, Nov. 29 (Korea Bizwire) – Lotte Corporation erected a statue of German writer Johann Wolfgang von Goethe Tuesday in the open park behind Lotte World Tower, the tallest building in South Korea.  The 5.15-meter statue is a duplicate of sculptor Fritz Schaper’s Goethe Monument (1880) in Berlin’s Tiergarten Park, and will be available for [...]

Korea’s Tallest Building Nears Completion

Korea’s Tallest Building Nears Completion

SEOUL, Oct. 4 (Korea Bizwire) – Thirty years after its site was selected, Korea’s (and the OECD’s) tallest building yet, Lotte World Tower, has finally seen the completion of its exterior structure. With only the finishing touches remaining, construction is expected to wrap up on December 22.  Located in Jamsil, a neighborhood in southeast Seoul’s [...]

Lotte World Tower Another Skyscraper Curse?

Lotte World Tower Another Skyscraper Curse?

SEOUL, June 17 (Korea Bizwire) – While investigations into Lotte Group, one of Korea’s top five conglomerates,  regarding slush funds are marring its reputation, the “skyscraper curse”, a popular belief that a country or a company that constructs a skyscraper eventually confronts a mishap, is in the public eye. Construction on the second Lotte World (Lotte [...]

More Stocks of Lotte’s Hotel Unit to be Sold to Investors

More Stocks of Lotte’s Hotel Unit to be Sold to Investors

SEOUL, April 6 (Korea Bizwire) – Retail giant Lotte Group is seeking to sell more of its hotel unit’s stocks to retail and institutional investors in a move to improve its cobweb-like corporate governance, industry sources said Wednesday. Hotel Lotte Co., the group’s hotel unit, has been preparing to go public on the Seoul bourse as [...]

Gov’t Extends Duty-Free Operational Rights to 10 Yrs

Gov’t Extends Duty-Free Operational Rights to 10 Yrs

SEJONG, March 31 (Korea Bizwire) - The South Korean government on Thursday decided to extend the operational licenses of local duty-free stores to 10 years from the current five and have them automatically renewed in a bid to help the retail industry do business in a stable and predictable environment. In a minister-level meeting in Seoul, the [...]