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February 06, 2024
Lotte Global Logistics new CEO vows global push
Lotte Global Logistics' new CEO Kang Byoung-ku pledged to take its logistics networks to a new level for oversea expansion while tapping into cross-border e-commerce business on his first day in office. “I promise to establish Lotte Global Logistics as a leading company in the...
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January 29, 2024
Lotte Duty Free, Modetour seek to capitalize on Vietnam's tourism boom
Lotte Duty Free said Friday that it signed a memorandum of understanding with the South Korean travel agency Modetour on Thursday to strengthen joint marketing efforts toward Korean tourists to Vietn...ative, the company aims to enhance the profitability of its Vietnamese branches, an off...
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January 18, 2024
Woori, BC improve profits in overseas card business
... profit for Korea‘s six card firms operating overseas -- KB Kookmin, Shinhan, Woori, BC, Hana and Lotte -- was around 25.6 billion won in total, down by almost 40 percent from the previous year. KB K...and Korean payment services firm Smartro. Also seeing a rebound in business abroad...
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January 11, 2024
[Herald Interview] Lotte Biologics' US plant to begin ADC services in early 2025
SAN FRANCISCO -- Lotte Biologics will begin production of its antibody-drug conjugates at its US plant by the first quarter of 2025, according to its CEO Richard Lee, who spoke at a meeting with repo...nergies when making additional investments into a product finishing service,” he said....
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January 10, 2024
Korean biotech firms flex muscles at J.P. Morgan Healthcare Conference
... This year, the number of Korean companies that received official invitations from the host increased to six from three last year. The presenters include Samsung Biologics, Celltrion, Yuhan Corp., Lotte Biologics, SK Biopharmaceuticals and Kakao Healthcare. Samsung Biologics and Cellt...
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January 02, 2024
Reflecting on bumper year for K-food
...riginal version of Buldak, according to the official. In 2022, a total of eight food companies, including CJ CheilJedang, Daesang, Dongwon F&B, Hyundai Green Food, Ottogi, Nongshim, SPC Samlip and Lotte Wellfood posted annual sales of 3 trillion won or more. Industry sources predict th...
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January 02, 2024
[KH explains] Nexon’s failed stake sale reignites dispute over ‘punitive’ inheritance tax
...12 trillion won since the late Samsung patriarch Lee Kun-hee died in 2010 with an estate valued at 20 trillion won. Other heirs of some of the country's biggest conglomerates, including LG, SK and Lotte, are also selling their stocks and taking loans on them to pay off the hefty inheri...
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December 28, 2023
Chaebol leaders heading to CES 2024
...ectric and energy giant LS Group's Chairman Koo Ja-eun and industrial conglomerate Doosan Group's Chairman Park Jung-won, who is returning to CES after a four-year absence. Shin Yoo-yeol, who leads Lotte Group's future growth office, will also be there. At CES 2023, Lotte Dat...
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December 21, 2023
Incheon Airport vows to go digital for more convenient services
...transformation is a continuous, interconnected process rather than a one-time project, and the airport is committed to advancing in this direction. Meanwhile, Incheon Airport has collaborated with Lotte Global Logistics to introduce an "easy-drop" service, set to launch on Dec. 29. The...
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December 13, 2023
[KH Explains] How Netherlands has become a top K-food destination
...al sources. “From 2015 to 2020, Japanese sushi all-you-can-eat restaurants were a big thing, but today, all-you-can-eat Korea restaurants have become a new thing among my friends and communities,” Lotte Giesbers, a Korean studies student at Leiden University in South Holland, told Th...
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December 12, 2023
Questions raised over Uniqlo’s hefty dividend payouts
...fit by 50.9 billion won. The recipients of these dividends are Uniqlo's headquarters in Japan and Lotte Shopping. The decision to issue dividends is particularly noteworthy, given that it occurred du... a 51:49 joint venture between Japan’s Fast Retailing, the owner of the Uniqlo bran...
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December 08, 2023
Succession scheme taking shape at Lotte
Lotte Group's year-end reshuffle announced on Wednesday signals a focus on new growth opportunities, placing the third-generation scion at the forefront. The conglomerate, ranked as the country's si...its head. Including Kim's appointment, three female CEOs will hold positions at L...
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December 06, 2023
Lotte renews online grocery sales race with new mega facility
Lotte Shopping, the retail arm of Lotte Group, said Tuesday it is set to start the construction of a new logistics center in Busan in partnership with UK retail tech firm Ocado. Lotte held a groundbreaking ceremony for the new facility, called the Customer Fulfillment...
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November 02, 2023
Posco secures W6tr supply deal from Lotte Energy Materials
Posco International announced Wednesday that the company will provide 6 trillion won ($4.4 billion) worth of raw materials for Lotte Energy Materials’ high-end copper foil production. Posco International said the company and Lotte Energy Materials signed a memorandum of unders...
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October 30, 2023
[KH Explains] Card firms increasingly hesitant over Apple Pay
... of 195,000, surpassing all local competitors. However, Hyundai Card's new members have steadily declined over the subsequent five months. The numbers dropped to 159,000 in April, 139,000 in May, 120,000 in June, 115,000 in July and 110,000 in August. This August figure ranked fifth, trailing ...
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October 24, 2023
Hyundai Motor to build 1st car plant in Saudi Arabia, leading 46 Korea-Saudi deals
...operation. In the energy industry, several collaborations were established centered around the hydrogen sector, including a letter of intent by Korea Electric Power Corporation, Posco Holdings and Lotte Chemicals with petroleum refiner Saudi Aramco, the world's second-largest company b...
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October 06, 2023
Hikes in prices of raw materials likely to fuel consumer inflation
...d concerns, saying they have yet to make any price adjustments. "No specific review or confirmation has been made at this point in regards to price adjustments," said an official from HiteJinro. Lotte Chilsung, the beer producer of Korean retail giant Lotte, also said they ...
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October 06, 2023
Lotte Biologics doubles down on global contract drugmaker ambitions
Lotte Biologics is gearing up for the construction of three drug manufacturing plants with its recent land purchase in Songdo, Incheon, taking its first step on its decadelong journey to become a glo... going as planned. “Lotte Group sees the CDMO business as an important futu...
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October 03, 2023
BTS agency likely to face tougher disclosure rules
...first half of this year, as the figure dipped by more than 2 trillion won from 5.07 trillion won to 2.86 trillion won. Iljin sold eight of its affiliates including Iljin Materials, now known as Lotte Energy Materials, this year. In March, copper foil manufacturer Iljin Materials was so...
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October 03, 2023
Lotte increases efforts to give back to society
With the aim of alleviating childhood inequality, Lotte is also planning to expand its “Mom’s Happiness Playground” project, which builds safe, eco-friendly playgrounds in poor communities. Starting...0 social workers in Songpa-gu, as well as monthly cultural events for people with di...