SEOUL, May 26 (Korea Bizwire) – Lotte’s new beer brand has stirred debate with some claiming it copied the name of a chewing gum sold by the conglomerate’s Japan unit, industry sources said Thursday. The controversy is seen as throwing cold water on the launch of the product that targets the low to mid-end market. [...]
SEOUL, May 10 (Korea Bizwire) – Lotte Chemical Corp., a major chemicals firm here, said Wednesday that it plans to spend 370 billion won (US$326 million) in expanding facilities in the country, to better meet demand and strengthen its product portfolio. Lotte Chemical decided to expand the output at its domestic plant that produces meta [...]
SEOUL, May 7 (Korea Bizwire) – Lotte Group is facing huge losses as its outlets in China have remained closed for about two months over Beijing’s apparent retaliation against the deployment of an advanced U.S. missile defense system in South Korea, according to group officials Friday. Chinese authorities ordered Lotte to close its stores following [...]
SEOUL, April 24 (Korea Bizwire) – Lotte Corporation and LEGO Korea are hosting a Lego festival until May 7 on the lawn of Lotte World Mall, where visitors can contribute to building a 12-meter tall “Lego flower.” Under the theme “Lego Becomes Flower,” participants can create their own Lego works to fill up the massive [...]
SEOUL, April 15 (Korea Bizwire) – Lotte Group is expected to suffer damage in sales worth 1 trillion won (US$875.7 million) over the first half of 2017, industry watchers said Saturday, as China continues to condemn its decision to help the South Korean government’s deployment of a U.S. missile defense system. China has been putting [...]
SEOUL, April 7 (Korea Bizwire) – South Korean retail giant Lotte Group’s Chinese retail operations are facing a protracted business suspension as Chinese authorities are expected to extend punitive measures for an additional month in retaliation for Seoul’s decision to deploy a U.S. missile defense system, industry sources said Friday. According to Lotte, 41 out [...]
SEOUL, April 4 (Korea Bizwire) – Seoul’s famous annual shopping festival for foreign visitors has returned once again this year with more offers and for an extended duration, starting next month. The Seoul Summer Sale, which will run from April 23 through to the end of July, will offer tourists from all around the world [...]
SEOUL, March 30 (Korea Bizwire) – A wave of artificial intelligence (AI) is sweeping the retail industry in South Korea, as major department stores and online shopping malls rush to adopt the latest technology to attract consumers. Shinsegae is the first in the retail industry to deploy a marketing strategy involving AI technology. Starting today, Shinsegae [...]
SEOUL, March 28 (Korea Bizwire) – As desperate times call for desperate measures, South Korean conglomerate Lotte is doubling down on its all-out efforts to pander to the Chinese market after 87 Lotte Mart stores were shut down by the Chinese government. Lotte’s unexpected move to send its Chinese consumers a message of understanding and [...]
SEOUL, March 24 (Korea Bizwire) – A unit of Lotte Group, a South Korean retail giant currently receiving the brunt of China’s apparent economic retaliation in protest over Seoul’s deployment of a U.S. missile defense scheme, said Friday that it plans to raise a total of 360 billion won (US$320 million) via stock sales and [...]