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November 19, 2024
Experts dismiss Lotte's liquidity crisis rumors amid stock plunges
Lotte Group's stock plummeted to record lows on rumors of a liquidity crisis, but experts claim these concerns are overstated and emphasize the need for better debt control. The holding company’s st...tocks hit 52-week intraday lows during the session, with the holding firm reaching 20,...
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November 18, 2024
[Herald Interview] Busan mayor envisions city as Korea’s southern hub for balanced growth
... attracted record-breaking investments of 8.4 trillion won (approximately $6 billion) over the past two years, creating more than 12,700 jobs. Key projects include logistics giants like Coupang and Lotte Shopping, alongside companies in emerging industries such as digital tech...
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August 18, 2024
Per-customer spending at duty-free shops hits 5-year low
...idual travel over group tours, and they’re more interested in food tours and pop-up stores than shopping, which has weakened the position of duty-free shops,” said an industry official who wished to b... the meantime, these challenges also impacted on the performance of companies with...
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July 25, 2024
Payment delays prompt exodus from Tmon, Wemakeprice
Sellers are leaving Tmon and Wemakeprice, the online shopping platforms owned by Singapore-based e-commerce giant Qoo10, due to delays in payment reportedly caused by liquidity issues, according to industry sources, Wednesday. Major retailers like Lotte Shopping, GS R...
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May 17, 2024
Korean firms target EV charging market in US
Lotte and SK both made announcements of progress in their entries to the US EV charging market Thursday, joining LG as Korean conglomerates competing in the burgeoning sector. Lotte Innovate announc...business, as it intends to tap into various businesses with EV charging deman...
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April 22, 2024
KGC eyes Indonesian market, riding high on volleyball fame
...ch between the Red Sparks and Indonesian players held in Jakarta on Saturday, organized by the country’s sports authorities. Various promotions were also conducted at the KGC's ginseng store at the Lotte Shopping Avenue in Jakarta. The KGC said it will further enhance its ma...
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March 20, 2024
Myeong-dong bustles again as retail shops fill up
...sales outlets as they serve as billboards for promoting the brands to the footfall population." Major brands such as Lululemon and Apple have taken up spots on the main street across the road from Lotte Department Store’s Myeong-dong branch. The stores serve as a venue to promote the ...
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March 20, 2024
Sephora exits Korea after years of losses
...ition in the market. Sephora's exit from the market follows a trend of closures among other beauty retailers over the last few years. GS Retail's Lalavla ceased operations in November 2022, while Lotte Shopping's LOHB's downsized significantly, maintaining only 10 shop<...
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January 29, 2024
Lotte Duty Free, Modetour seek to capitalize on Vietnam's tourism boom
Lotte Duty Free said Friday that it signed a memorandum of understanding with the South Korean travel agency Modetour on Thursday to strengthen joint marketing efforts toward Korean tourists to Vietn...e Duty Free and Modetour will work together to develop new product packages combining d...
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December 21, 2023
Incheon Airport vows to go digital for more convenient services
...transformation is a continuous, interconnected process rather than a one-time project, and the airport is committed to advancing in this direction. Meanwhile, Incheon Airport has collaborated with Lotte Global Logistics to introduce an "easy-drop" service, set to launch on Dec. 29. The...
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December 13, 2023
[KH Explains] How Netherlands has become a top K-food destination
...day, all-you-can-eat Korea restaurants have become a new thing among my friends and communities,” Lotte Giesbers, a Korean studies student at Leiden University in South Holland, told The Korea Herald....ends beyond physical stores to online consumer markets, with the appearance of dedi...
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December 12, 2023
Questions raised over Uniqlo’s hefty dividend payouts
.... In the 2021 fiscal year, the company allocated 140 billion won in dividends, exceeding its net profit by 50.9 billion won. The recipients of these dividends are Uniqlo's headquarters in Japan and Lotte Shopping. The decision to issue dividends is particularly noteworthy, gi...
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December 06, 2023
Lotte renews online grocery sales race with new mega facility
Lotte Shopping, the retail arm of Lotte Group, said Tuesday it is set to start the construction of a new logistics center in Busan in partnership with UK retail tech firm Ocado. Lotte held a groundbreaking ceremony for the new facility, called the Customer F...
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September 27, 2023
[KH Explains] Lotte goes all-out to secure cash amid lackluster earnings
South Korean retail giant and the nation's fifth-largest conglomerate Lotte Group is reportedly resorting to liquidating billions of won in assets as it grapples with flagging performance posted acro...ncial status, is largely attributed to the spluttering performance of its two major sub...
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September 24, 2023
Lotte opens major shopping complex in Vietnam
Lotte Shopping, the retail arm of South Korean retail giant Lotte Group, said it held the grand opening ceremony for its shopping complex Lotte Mall West Lake Hanoi on Friday, following the company's.... 1 retailer," said Kim Sang-hyun, vice chairma...
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September 10, 2023
Lotte Homeshopping conducts first voluntary redundancy program
Lotte Homeshopping, the TV channel of South Korean retail giant Lotte, initiated its first voluntary redundancy program amid spluttering financial performance, according to a company official on Frid...d. The overall increase in the broadcast transmission fee, which refers to t...
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September 08, 2023
Hyundai, LG chiefs visit Indonesia to bolster EV, battery partnerships
...aders including Hyundai Motor Group Executive Chair Chung Euisun, LG Group Chairman Koo Kwang-mo, Lotte Group Chairman Shin Dong-bin and LS Chairman Koo Ja-eun were scheduled to participate in a busin...hin the country, after entering the market for the first time for Korean distributor...
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August 11, 2023
Industries upbeat about return of Chinese tourists
...y takes more than two to three months to reopen new or halted routes,” a Jeju Air official said. Lotte Duty Free, which saw its operating loss widen last year due to the prolonged COVID-19 lockdown i...rlines advanced 9.42 percent and Korea Airlines climbed 2.9 percent. Hotel Shilla,...
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August 06, 2023
Department stores on high alert amid copycat crime threats
...e, following a stabbing rampage at a department store in Bundang, Gyeonggi Province on Thursday. Lotte Property & Investment, one of the leading department store operators here, on Friday dispatched ...l 20 people Friday morning at Jamsil Station. "(We) are increasing searches of the ...
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June 19, 2023
Fukushima water fears stoke soaring salt demand
...e same period last year, E-mart's sales of salt from June 1 to 14 increased by 55.6 percent, while sales of sea salt jumped 118.5 percent, according to data from the nation's hypermarket chain. At Lotte Mart, sales of salt items climbed 30 percent during the same period while those sol...
November 24, 2024
