Lotte expands investments in Vietnam

THE Lotte Group has various subsidiaries in Vietnam handling food and non-food businesses. While the Korea-based company is known most especially for its confectionery across the globe, in Vietnam it is engaged in industries like hotel, cinemas, supermarkets, and commercial centres.

In a meeting with Vietnamese Prime Minister Nguyen Xuan Phuc on March 8,  Lotte vice chairman of Hwang Kag-gyu updated the minister on the company’s new investments in the country, one of which is cacao cultivation in Lam Dong. The Korean firm is also setting up a Lotte mall in Hanoi, and an eco smart city in Ho Chi Minh, according to a report in VGP News.  It will also enter the IT and goods transportation sectors as well.

Along with these extensive ventures, as well as programmes for start-up companies and young students in Vietnam, Lotte is considered a partner for economic development. During the meeting, PM Phuc also called on Lotte to help the government market Vietnamese products like chocolate and plastics in Korea.