Lotte Shopping Co., Ltd., a distribution unit of Lotte Group, is a multinational retailer headquartered in Seoul, South Korea. Founded in 1979, Lotte Shopping operates various retail stores, including department stores, outlet stores, hypermarkets, drug store chains, and e-commerce.[1][2] It is also engaged in the film industry by holding the majority of its stake in Lotte Cultureworks.[3][4]
Businesses
Lotte Shopping's primary business divisions and subsidiaries include:
Business divisions Subsidiaries
Lotte Shopping operates Korea's largest department store chain and the second-largest hypermarket chain in Korea.[5] Lotte runs a home appliance retailer by acquiring Hi-Mart for 1.25 trillion won in 2012. Hi-Mart was the nation's top consumer electronics retailer, with 314 stores.[6] Lotte Shopping also had the multiplex cinema chain Lotte Cinema under its wing but decided to spin off the cinema business department as a subsidiary, Lotte Cultureworks, in 2018.[7]
Lotte Shopping also runs its retail business in the Southeast Asian market, including Vietnam and Indonesia.[8] Lotte Shopping once operated five department stores and 99 discount stores in the mainland China market. However, after South Korea deployed THAAD in a golf course owned by the Lotte Group, the company withdrew its retail business from China as it failed to recover from a boycott campaign.[9][10][11]
- Lotte Department Store
- Lotte Mart
- Lotte Super
- Lotte Homeshopping
- Lotte Cultureworks
- Lotte Hi-Mart
Gallery
See also
- List of largest companies of South Korea
- China–South Korea relations
External links
References
- Eun-young Sa. Lotte Shopping Looks Beyond its 30 Years Maeil Business Newspaper, January 19, 2009^
- Eun-jee Park. Lotte Shopping to shut 30% of its stores Korea JoongAng Daily, February 13, 2020^
- Kahyun Yang. S.Korean movie theatre chain Megabox on sale Reuters, September 10, 2014^
- Tae-hee Lee. Lotte Shopping reports 45.5 billion won second quarter net Korea JoongAng Daily, August 5, 2022^
- (LEAD) Lotte Shopping swings back to Q2 profit Yonhap, August 5, 2022^
- Si-soo Park. Lotte gets green light to acquire Hi-Mart The Korea Times, October 29, 2012^
- Lotte Shopping to hive off cinema business, launch new affiliate in June Yonhap News Agency, April 6, 2018^
- Jae-heun Kim. Lotte, Shinsegae fail in Southeast Asia, turn toward US The Korea Times, November 15, 2021^
- Tae-hee Lee. Lotte Shopping to withdraw its last department store from China Korea JoongAng Daily, August 18, 2022^
- South Korea's Lotte seeks to exit China after investing $9.6 billion, as Thaad fallout ensues The Straits Times, March 13, 2019^
- Huileng Tan. Chinese media warn about 'lessons' for South Korea when it ignores Beijing's 'concerns' CNBC, September 19, 2017^