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May 14, 2023
Hanwha Aerospace, KT added to MSCI Korea Index
... firm KT; and Posco International, Posco Group's general trading arm were added to the Korean Index under the quarterly readjustment announced Friday. Meanwhile, advertising agency Cheil Worldwide, Lotte Shopping, security firm S-1 Corp and COVID-19 test kit developer SD Biose...
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March 22, 2023
LVMH CEO visits Korea, meets retail business leaders
...h Korean retailers. During his three-day trip to Korea which ends on Wednesday, Arnault met with Lotte Group Chairman Shin Dong-bin at the Lotte World Tower in Jamsil, southern Seoul, on Monday, duri... After his visit to Shinsegae Department Store, he visited Dior's pop-up s...
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March 20, 2023
Lotte loses Incheon Airport duty-free license bid
Lotte Duty Free, the country's largest duty-free operator in terms of sales, has lost the bidding race for the operational rights of duty-free shops at Incheon Airport. Instead, Lotte's smaller rivals, Hotel Shilla, Shinsegae DF and Hyundai Department Store Duty Free, were short...
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March 08, 2023
[Newsmaker] Women make up just 24% of workforce at major companies
...in the retail sector and the finance sector were female, while only 4.7 percent of total employees working in the steel industry were found to be women. By company, the female ratio was highest at Lotte Shopping, with women there accounting for more than 70 percent of the wor...
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February 28, 2023
China’s duty-free giant joins bid to operate at Incheon Airport
...ticipating in a tender briefing session last month. Competing head-on with Korean rivals such as Lotte, Shinsegae and Hotel Shilla, the Chinese duty-free giant aims to win as many as two business lic... Incheon Airport, but the Chinese company has stronger cash flow than us,” said a l...
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February 28, 2023
Hyundai E&C's Hillstate DMC boasts convenient location
...s housing a total of 299 households in Jeungsan-dong, Eunpyeong-gu, northern Seoul. Adding up to its proximity to a subway station, which is considered a key merit for real estate properties here, Lotte Mall, a multiplex shopping mall, is scheduled to be built within walking ...
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February 08, 2023
Foreign shoppers flock back as pandemic nears its end
...at sales in the luxury goods section at the Galleria Department Store in Apgujeong-dong, a posh shopping district in southern Seoul, had increased by 500 percent on-year between August and January. H...n tourists at the branch is known to be the second-highest in the country, following...
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January 26, 2023
Lotte Duty Free wins rights to run Melbourne Airport shops
Lotte Duty Free said Wednesday it clinched a 10-year contract to become the new operator of Melbourne Airport duty-free shops, in a bid to make further inroads into the Oceania market. According to ...ich the travel retailer competed with six global companies including Dufry -- a Swedish...
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December 15, 2022
[Herald Interview] Retail mogul calls for diaspora support
...-square-meter lot. Once full-fledged, more retail and accommodation brands will be able to enjoy distribution services provided by K&K's logistics infrastructure. So far, retailers Big C, VinMart, Lotte Mart and Aeon Mall, as well as luxury hotel brands such as JW Marriott, InterContin...
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November 03, 2022
Lotte to inject W1tr to expand online grocery business
Lotte Shopping, the e-commerce arm under retail giant Lotte, said Wednesday it plans to inject some 1 trillion won ($705 million) to boost its online grocery business. In partnership with Ocado, UK’... -- to reduce waiting time for the users.” “In partnership with...
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November 01, 2022
Naver, Kakao open online spaces for mourning
...his year’s Korea Sale Festa, which runs from Nov. 1 through 15, will be the largest-ever annual shopping event in South Korea. An opening ceremony was slated to be staged in front of the Myeong-dong ...ree and 120 smaller ones last Friday, but stopped lighting the trees after the Itae...
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October 31, 2022
Retailers cancel Halloween-themed marketing events
... national mourning period throughout the week. The nation's top two retail giants, Shinsegae and Lotte said Sunday they made adjustments to their planned holiday campaigns out of respect for the vict...es are also tearing down celebration balloons and decor,” said an official from Sta...
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October 11, 2022
Amid weakening won, US cross-border shopping less attractive to Koreans
With the Korean won falling sharply against the US dollar, cross-border shopping on US platforms has become less attractive to Korean shoppers in a peak season that includes Black Friday in the US, s...ious quarter. Retailers are targeting local cross-border shoppers with cost-effective ...
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October 10, 2022
Korean duty-free shops strive to reduce reliance on China
... the resumption of international travel around the world, local retailers, especially the top two Lotte and Shinsegae, had pinned high hopes on the potential return of Chinese travelers to make up the...and departing passengers, we think the city has greatly reduced its reliance on Chin...
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September 30, 2022
Lotte’s overseas spending exceeds W7tr this year
South Korean retail-to-chemical giant Lotte Group said Thursday its overseas investment has exceeded 7 trillion won ($4.9 billion) this year. So far, the largest overseas project is Lotte Chemical’s...pany plans to construct a 60-story building, with another five floors underg...
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September 22, 2022
Dyson's Gen5 Detect vacuum cleaner makes debut in Korea
...5 Detect’s battery which lasts an hour on a single charge. The Gen5 Detect retails for 1.39 million won ($997) in Korea and is available for purchase in Dyson demo stores, major department stores, Lotte Hi-Mart electronics goods retail shops and online beginning Wednesday in Korea. A...
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September 05, 2022
Lotte Group to build eco smart city, logistics center in Vietnam
South Korean retail giant Lotte Group said Sunday it will build an eco-friendly smart city complex and smart logistics center in Vietnam, as part of its expansion plan to cement a strong foothold in ...pany plans to construct a 60-story building, with another five floors underground, comp...
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August 30, 2022
Lotte grants W14b to KAIST for R&D
Lotte Group, South Korea’s fifth-largest conglomerate, has decided to donate 14 billion won ($10.4 million) to the Korea Advanced Institute of Science and Technology for various research and developm... President Lee Kwang-hyung at the university in Daejeon in February. According to the...
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August 23, 2022
Lotte chief heads to Vietnam on 1st overseas trip since pardon
Lotte Group Chairman Shin Dong-bin will visit Vietnam next month on his first overseas trip after a presidential pardon granted last week lifted a legal hurdle that had limited his business activitie...loyees working there. Some of the group’s major ongoing projects in Vietnam include a...
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July 26, 2022
Debate reopens on 10-year-old supermarket shutdown rules
Sundays are often a day for family shopping, but supermarkets in South Korea don’t operate every second and fourth Sunday of each month. Under the mandatory shutdown rules, designated to protect mom... organized. According to the Korea Chainstores Association, which is made up of Homep...
November 24, 2024
