SEOUL, May 15 (Korea Bizwire) — South Korea’s retail giant Lotte said Tuesday it will inject 3 trillion won (US$2.84 billion) into the conglomerate’s e-commerce business in the next five years to cope with the rapid expansion of the country’s online market. As part of its plan, Lotte Shopping Co. said eight online malls that [...]
SEOUL, Apr. 5 (Korea Bizwire) — South Korean retail giant Lotte said Thursday it will open an outlet dedicated to game products in Seoul this week amid a rapid growth of the country’s game industry. Lotte Shopping Co. said it has remodeled el Cube in Hongdae, western Seoul, into a shop exclusively for games and [...]
SEOUL, Mar. 19 (Korea Bizwire) — South Korean retail giant Lotte said Monday it will use artificial intelligence (AI) platform to review cover letters to find best candidates for its job positions as part of its efforts to boost accuracy and fairness in the hiring process. The system will be partly adopted for the recruitment [...]
SEOUL, Mar. 9 (Korea Bizwire) — Lotte Corp., the holding company of South Korean retail giant Lotte, said Friday it will continue to make major investments in Vietnam, as its head met with the country’s premier to seek support for the company’s various ongoing projects in the Southeast Asian country. During his meeting with Prime [...]
SEOUL, Feb. 13 (Korea Bizwire) — South Korean retail giant Lotte Group was thrown into disarray Tuesday as a Seoul court sentenced its chairman to 30 months in prison for bribery. The sentence handed down to Shin Dong-bin, by the Seoul Central District Court, caught Lotte officials off-guard, as they did not expect a jail [...]
SEOUL, Feb. 8 (Korea Bizwire) — The head of South Korean retail giant Lotte is planning to stay in PyeongChang throughout the Winter Olympic period to carry out sports diplomacy, company officials said Thursday, with the international event now just one day away. Lotte Group Chairman Shin Dong-bin will head to the alpine town of [...]
BEIJING, Feb. 2 (Korea Bizwire) – The top economic policymakers of South Korea and China agreed to boost bilateral tourism and economic cooperation, Seoul’s finance ministry said Friday, in a sign that Beijing may stop its retaliation against South Korean companies over the stationing of a U.S. missile system. The agreement came after talks between [...]
SEOUL, Jan. 18 (Korea Bizwire) – A Seoul court on Thursday turned down the claim by the eldest son of the founder of South Korean retail giant Lotte Group that he was unfairly removed from the boards of two Lotte hotel units. Shin Dong-joo, former vice chairman of Japan-based Lotte Holdings and eldest son of Lotte founder Shin Kyuk-ho, filed litigation against Hotel Lotte and [...]
SEOUL, Jan. 3 (Korea Bizwire) – Aside from “business”, “value”, “customer” and “innovation” were the keywords most commonly uttered by the leaders of South Korea’s top 10 conglomerates in their New Year’s addresses. Data provided by leadership assessment service CEOscore revealed that after “business”, which was uttered a leading 32 times, value, customer and innovation [...]
SEOUL, Nov. 9 (Korea Bizwire) – Expectations are running high ahead of a presidential summit between South Korea and China that China’s months-long economic retaliation over the politically charged THAAD anti-missile systems might be finally coming to an end. It was the agreement between foreign ministers from both countries last month to recover and improve the [...]