Lotte Group increases investment in Vietnam

On March 8 in Hanoi, vice chairman of Lotte Hwang Kag-Gyu met with Vietnamese Prime Minister Nguyen Xuan Phuc to explain Lotte’s business in Vietnam and discuss investment expansion and cooperation plans.
Lee Kwang Young, CEO of Lotte Asset Development, also attended this meeting.

According to Hwang Kag-Gyu, Lotte wishes to have continued investment and support for the businesses that are being carried out in Vietnam.

“In the future, Lotte will be a company that grows with Vietnam through investing in various business sectors, creating jobs and staging social contribution activities,” said Hwang at the reception.

Lotte has been active in Vietnamese food and restaurant business since the 1990s, and with its core businesses like distribution, services, and construction have continued to increase presence in Vietnam.

The group is currently pursuing two large-scale projects. The first is the Eco-Smart City, a large-scale complex with a department store, shopping mall, hotel, offices, and apartments in the Thu Thiem Urban Development Area, a developing area of Ho Chi Minh City.

In Hanoi, the group is also actively implementing its Lotte Mall Hanoi—a complex of apartments, offices, hotel, trade centre, and cinema.

Meanwhile, Lotte Center Hanoi, a large-scale complex opened in 2014, has become a landmark in Hanoi, raising Lotte’s image.

lotte group increases investment in vietnam
Lotte Group is currently pursuing two large-scale projects

Currently, there are 16 Lotte affiliated companies in Vietnam, including Lotte Confectionery, Lotte Department Store, Lotte Mart, Lotte GRS, Lotte Cinema, Lotte Asset Development, Lotte Hotel, and Lotte Duty Free, with 11,000 executives.

Lotte is highly valued for its growth potential in Vietnam and looks forward to continue investing in the future.

Source: VIR

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