Lotte Duty Free to close COEX store in central Seoul

Lotte Duty Free, South Korea’s largest duty-free business operator, is closing one of its flagship stores in Seoul in the wake of the COVID-19...

SK Gas, Lotte Chemical to launch JV for hydrogen power generation

SK Gas Co., a South Korean major liquefied petroleum gas (LPG) provider, and Korean chemicals firm Lotte Chemical Corp. are slated to set up a joint...

Bio, mobility to top Lotte's $30 bn spending list by 2026

South Korea’s Lotte Group will spend a total of 37 trillion won ($29 billion) on its businesses over the next five years, a chunk of which wil...

Lotte Hotel Yangon: Pain for POSCO International, Hotel Lotte

South Korea’s POSCO International Corp. and Hotel Lotte Co. have been suffering from sluggish earnings of their five-star hotel in Yangon, Mya...

E-Mart, Lotte Shopping hit by US retailers' earnings shocks

Shares in E-Mart Inc., South Korea’s largest supermarket chain, have been hovering near their lowest level in almost two years, on the back of...

Korea electronics retailers face headwind from e-commerce, dept. stores

South Korea’s major electronics retailers such as Lotte Himart are facing a headwind as more customers are buying home appliances online and d...

MBK puts home decor firm Modern House on market

MBK Partners has added South Korea's top home decor company Modern House to the list of assets it plans to exit this year, as domestic retail giants...

Lotte Chemical raises stake in Fine Chemical amid merger talk

South Korea’s Lotte Chemical Corp. has raised its stake in affiliate Lotte Fine Chemical Co. amid speculation that the two companies may merge...

NCSOFT profit beats forecasts as Lineage W drives sales to record

NCSOFT Corp., South Korea’s leading game developer, surprised investors with stronger-than-expected profit in the first quarter as Lineage W, ...

Lotte to buy BMS' biologics plant in Syracuse for $160 mn

South Korea's Lotte Group has agreed to buy Bristol Myers Squibb's (BMS) biologics plant in Syracuse in the state of New York for $160 million, the ...

Lotte Duty Free to open downtown store in Sydney

South Korea's Lotte Duty Free Co. is slated to open a downtown store in Sydney on May 5, after Australia reopened its international borders to forei...

NH Investment opens London affiliate to ramp up global IB business

NH Investment & Securities Co. has set up its affiliate incorporated in London, the South Korean major brokerage house announced on April 27. ...

Lotte Chemical, Soelect in $200 million JV for advanced batteries

South Korea’s Lotte Chemical Corp. is advancing into the electric vehicle battery market by forming a $200 million joint venture with US batte...

KT taps Vietnam for digital healthcare and AI-powered diagnosis

KT Corp., a major telecommunications company in South Korea, is set to enter the Vietnamese healthcare market with a pilot telemedicine service an...

Lotte to end dawn delivery service where Coupang, Kurly lead

South Korea’s retail giant Lotte Group will cease dawn delivery services for fresh food from this weekend, two years after it jumped into the ...

MBK seeks to exit Korea’s Lotte Card for over $2.5 bn

MBK Partners is in the early stages of talks with telecom operator KT Corp. and other potential bidders to sell its majority stake in South Korea's ...

Lotte Group’s confectionery and food shares jump 5% on merger news

Shares of both Lotte Confectionery and Lotte Food rose more than 5% Thursday on expectations of synergy effects from their upcoming merger. A d...

Lotte Confectionery to merge with Lotte Food

Lotte Group will merge its confectionery and foodstuff businesses, South Korea's fourth-largest conglomerate announced Wednesday.Lotte Confectionery...

Lotte seeks first-mover advantage in senior market

South Korea's Lotte Group will build a luxury residential town for retirees in Seoul by 2025 to plunge into the senior housing market.Lotte Hotels a...

Hyundai, Lotte to join used car market, seen as boost for small players

South Korea’s top automaker Hyundai Motor Co. and the country’s No. 1 car rental firm Lotte Rental Co. are advancing into the domestic u...

Korea’s fashion OEM firms eye record sales 

South Korea’s clothing original equipment manufacturers (OEM) are set to see a supercycle or a sustained period of expansion driven by robust ...

Lotte invests in Canada's edible insect food company

South Korea's Lotte Confectionery Co. has invested around 10 billion won ($8 million) in Canada’s edible insect protein producer Aspire Food G...

Lotte says to become the norm in metaverse retail space

Lotte Group Chairman Shin Dong-bin is so determined to make the metaverse the group's next playing field that he recently proposed a metaverse meeti...

Korea petchem shares shine on China hopes, valuations

South Korean petrochemical companies’ stocks rose as investors bought them at a bargain on expectations for Chinese demand recovery despite ri...

Lotte to develop seawater-degradable bioplastic material

South Korea’s Lotte Chemical Corp. plans to develop a decomposable bioplastic material in seawater for production based on petrochemicals for ...

Lotte Chemical to invest $502 mn in eco-friendly materials plants in Korea

South Korea’s Lotte Chemical Corp. is set to spend 602 billion won ($501.5 million) in building eco-friendly materials plants at one of its pe...

Daewoo consortium to develop building complex in Hanoi new town

Daewoo Engineering & Construction Co. has said it signed a contract on Jan. 26. to develop the H1HH1 block in Starlake, a new urban town in no...

Samsung, Lotte, POSCO to build hydrogen plant in Malaysia

Samsung Engineering Co., Lotte Chemical Corp., and POSCO signed a memorandum of understanding (MoU) with Sarawak Economic Development Corporation (S...

Lotte acquires Ministop Korea for $260 mn from Aeon

South Korea's Lotte Group has agreed to acquire a 100% stake in Ministop Korea for 313.4 billion won ($263 million), the country's fifth-largest con...

Lotte Group beats Shinsegae to acquire Ministop Korea

Lotte Group beat its retail rival Shinsegae Group in a competition to buy South Korea’s fifth-largest convenience store chain Ministop Korea. ...