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 [...]
SEOUL, Nov. 3 (Korea Bizwire) — Lotte Group said Friday it has recently obtained approval from the Chinese authorities for the construction of a commercial complex in Chengdu. The move can be a sign that South Korean companies may be able to engage in normal business operations following months of frosty relations caused by Seoul’s [...]
SEOUL, Sept. 19 (Korea Bizwire) – Lotte Group’s decision to cut its losses on its Lotte Mart business in China is reportedly drawing interest from five to 10 potential buyers, according to sources in the investment banking industry. Speaking on conditions of anonymity, one source said, “The names of the firms involved in negotiations cannot [...]
SEOUL, Sept. 7 (Korea Bizwire) — With the government keeping a wary eye on China’s next move amid the deployment of an additional THAAD missile defense battery, South Korean companies are bracing for further retaliation from the Chinese government. Earlier Thursday, the South Korean defense ministry announced the deployment of an additional four launchers for [...]