SEOUL, Nov. 12 (Korea Bizwire) — This year, the public’s view and sentiment toward “Pepero Day (Nov. 11) ” are not great. It seems that cracks are occurring in a previously popular promotion that has been thriving for 26 years. One of the things consumers feel strongly about every Pepero Day is that it is [...]
SEOUL, Oct. 17 (Korea Bizwire) — The top court’s ruling on Lotte chief has cleared uncertainties over the conglomerate’s business plans, industry officials said Thursday, as it is expected to push for the listing of a hotel unit to complete its holding company structure. Shin Dong-bin, who heads the country’s fifth-largest conglomerate by assets, was [...]
SEOUL, Oct. 2 (Korea Bizwire) — Popular characters created by South Korea’s Sticky Monster Lab will become the new main characters of Seokchon Lake in Jamsil, Seoul. The Lotte Foundation for Arts, Lotte World Tower, and Songpa District Office will work with Sticky Monster Lab, a South Korean group of artists, to start the Lunar [...]
SEOUL, Aug. 27 (Korea Bizwire) — South Korea’s two leading duty-free operators have bid for the right to sell cigarette and liquor products at Singapore’s Changi Airport, an industry tracker said Tuesday. No. 1 Lotte Duty Free and second-largest Shilla Duty Free submitted their bids to operate tobacco and liquor concessions at Changi’s four terminals [...]
SEOUL, Jun. 18 (Korea Bizwire) — It is hard for consumers to live without online and mobile shopping, and for retailers already struggling with a slump in store traffic and the subsequent fall in direct to consumer sales, living up to the trend may be pronounced in the face of cutthroat competition with a slew [...]
SEOUL, May 28 (Korea Bizwire) — Retail and chemical giant Lotte Group is ramping up efforts to tap deeper into Southeast Asia and advanced economies amid falling sales in China, once its biggest overseas market, industry sources said Tuesday. Overseas sales of the conglomerate came to 8.9 trillion won (US$7.49 billion) in 2018, up 7.2 [...]
SEOUL, May 14 (Korea Bizwire) — Lotte Group, South Korea’s retail-to-chemicals conglomerate, has been accelerating its move to tap deeper into the United States, the world’s largest economy, with its cumulative investments reaching some US$4 billion in production facilities and other areas, industry sources said Tuesday. In its latest investment, Lotte Chemical Corp., the group’s [...]
SEOUL, Mar. 7 (Korea Bizwire) — South Korean medium-sized companies held a press conference in Japan on Wednesday accusing Lotte Group subsidiaries of resorting to unfair treatment. The Association of Lotte Victims, with Rep. Chu Hye-seon from the South Korean minor opposition Justice Party, exposed six cases of medium-sized companies and business owners falling victim [...]
SEOUL, Dec. 4 (Korea Bizwire) — Lotte Cultureworks, the retail giant Lotte Group’s cinema affiliate, has made inroads into Indonesia, with a goal to open 20 movie theaters in the Southeast Asian country by 2020, the company said Tuesday. As the initial step, the operator of Lotte Cinema, one of the biggest South Korea movie [...]
SEOUL, Oct. 23 (Korea Bizwire) — Lotte Group said Tuesday it will invest 50 trillion won (US$44 billion) and create 70,000 new jobs in the next five years in its first major business decision after its chief returned to the helm of South Korea’s fifth-largest conglomerate. Lotte Corp., the business group’s holding firm, said that [...]