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March 12, 2023
Hyundai E&C begins petrochemical project
...ess developed by Aramco that converts low-value crude into value-added raw materials called thermal crude-to-chemicals technology. The project is set to be completed in 2026. Hyundai Engineering, Lotte Engineering & Construction, and DL E&C will join Hyundai E&C as its main partners f...
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March 08, 2023
[Newsmaker] Women make up just 24% of workforce at major companies
...in the retail sector and the finance sector were female, while only 4.7 percent of total employees working in the steel industry were found to be women. By company, the female ratio was highest at Lotte Shopping, with women there accounting for more than 70 percent of the workspace. K...
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February 28, 2023
China’s duty-free giant joins bid to operate at Incheon Airport
...ce. According to industry sources on Monday, CDFG offered its bid to join the heated race after participating in a tender briefing session last month. Competing head-on with Korean rivals such as Lotte, Shinsegae and Hotel Shilla, the Chinese duty-free giant aims to win as many as two...
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February 28, 2023
Hyundai E&C's Hillstate DMC boasts convenient location
...s housing a total of 299 households in Jeungsan-dong, Eunpyeong-gu, northern Seoul. Adding up to its proximity to a subway station, which is considered a key merit for real estate properties here, Lotte Mall, a multiplex shopping mall, is scheduled to be built within walking distance f...
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February 23, 2023
Pending price hikes in soju, beer deepen inflation woes in Korea
...ading soju maker. In 2022, local soju makers increased the prices of their soju products. Hite Jinro raised the factory price of its soju products by 7.9 percent for the first time in three years. Lotte Chilsung Beverage also raised its soju product price by some 7 percent last year, t...
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February 20, 2023
Food companies log record sales, but profits lag
...r, but high raw material prices weighed down their profit growth. In 2022, Korean food companies Lotte Confectionery, SPC Samlip, Ottogi and Nongshim newly joined the short list of Korean food compan...7 percent increase in operating profits, which was 24 percent below the stock market...
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February 17, 2023
Startups Ministry to carry out tech mediation on Lotte, Algocare
...nd Startups said Wednesday it will carry out a mediation on a technological theft dispute between Lotte Healthcare and Algocare. The ministry plans to form a coordination group composed of three to f...ft or patent infringement.” Last month, the Fair Trade Commission launched an inve...
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February 17, 2023
Uncertainty ahead for Lotte's venture into CDMO
Lotte Group, the country's fifth largest conglomerate, hopes its biopharmaceutical contract manufacturing arm will become a future engine of growth, following in the footsteps of Samsung. But the roa...e group is making a big push for Lotte Biologics and Lotte Healthca...
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February 14, 2023
No. of SK-affiliated companies exceeds 200 for 1st time
...rgy-to-construction conglomerate GS Group held the third most at 96, followed by Hanwha Group and Lotte Group holding 93 and 90, respectively. SK also newly added the largest number of affiliates und...an intermediary solutions firm for replacement drivers. In October last year, SK ga...
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February 08, 2023
Foreign shoppers flock back as pandemic nears its end
...n tourists at the branch is known to be the second-highest in the country, following those of the Lotte Department Store's main branch in the tourist district of Myeong-dong. Hanwha Galleria added th...eria said. Chinese shoppers spent some 3 million won ($2,400) per individual, the co...
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January 26, 2023
Lotte Duty Free wins rights to run Melbourne Airport shops
Lotte Duty Free said Wednesday it clinched a 10-year contract to become the new operator of Melbourne Airport duty-free shops, in a bid to make further inroads into the Oceania market. According to ...ent year-on-year, and we are seeing a significant global reopening effect," said an off...
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January 16, 2023
Chaebol leaders join Yoon's trip to UAE, WEF
...ility Chairman Park Gee-won, HD Hyundai President Chung Ki-sun and GS Energy Chief Executive Officer Huh Yong-soo are among the leaders who joined the delegation. LG Group Chairman Koo Kwang-mo and Lotte Group Chairman Shin Dong-bin have not joined the delegation, but they will be atten...
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January 12, 2023
Lotte Biologics pledges $3b to beef up production at home
By Shim Woo-hyun Korea Herald correspondent SAN FRANCISCO -- Lotte Biologics will invest around $3 billion by 2030 to build new CDMO plants in South Korea, Lotte Biologics CEO Richard Lee announced during the company’s presentation at the 41st JPMorgan Healthcare Conference h...
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January 11, 2023
Biotech firms flock to JPMorgan Healthcare Conference
... of investors and biotechnology executives from around the world. From Korea, Samsung Biologics, Lotte Biologics and SD Biosensor have been invited to speak at the conference. They are expected to br...d to introduce the company’s vision to expand its manufacturing capacity and busine...
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January 09, 2023
[NCSI] Samsung C&T, Samsung Fire & Marine, Kumkang Shoe, Lotte Duty Free top customer satisfaction rankings
... the collapse of an apartment building under construction in Gwangju last year, the survey said. Lotte Duty Free has topped the tax-free sector, and also claims the fifth spot in the overall chart. ...ate compensation offer as a promotional event, the first such in the industry. The ...
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January 04, 2023
Lotte Biologics completes acqusition of BMS drug plant
Lotte Group has completed a $160 million acquisition of US drug firm Bristol Myers Squibb, the group’s drug manufacturing unit Lotte Biologics said Tuesday. With the latest deal, the country's fifth...ate has made its official debut in the contract manufacturing market, after ...
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January 03, 2023
‘Seize chances to thrive in times of crisis’
... and North America to create synergy." Choi Jung-woo Posco Group chairman "Let's create a 'new Lotte' by endlessly aiming for change and innovation during the age of 'permacrisis.’ Self-innovation ...e key to improving the company includes having the courage to innovate (itself)." ...
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December 22, 2022
7-Eleven speeds up converting Ministop stores
US-originated convenience store chain 7-Eleven is speeding up to complete the ongoing conversion of Ministop stores by the end of next year as the Korean operator owned by Lotte Group aims to cement its market position among the nation’s top three convenience store operators, according t...
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December 21, 2022
Luxury hotels slash VIP benefits to brace for lackluster year
...brace for lackluster sales next year, according to industry sources on Tuesday. Starting Jan. 1, Lotte Hotel, the nation’s largest hotel chain, will raise the bar to qualify for its Rewards Membershi...sic, silver, gold and platinum memberships are awarded based on the customer's numb...
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December 15, 2022
[Herald Interview] Retail mogul calls for diaspora support
...-square-meter lot. Once full-fledged, more retail and accommodation brands will be able to enjoy distribution services provided by K&K's logistics infrastructure. So far, retailers Big C, VinMart, Lotte Mart and Aeon Mall, as well as luxury hotel brands such as JW Marriott, InterContin...