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December 13, 2022
Regulator looks into possibility of Apple Pay violating privacy law
...credit ratings, had been leaked from three card issuers -- KB Kookmin Card, NH Nonghyup Card, and Lotte Card. According to industry sources, Apple Pay’s local partner Hyundai Card has been claiming t... from a limited number of large franchise outlets such as McDonald's, Starbucks, Ed...
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December 12, 2022
Will Apple Pay contend in land of Samsung Pay?
...ation technology, which is a short-range wireless technology. Currently, NFC technology is only applied to limited number of large franchise outlets such as McDonald's, Starbucks, Ediya Coffee and Lotte Hi-Mart. According to industry insiders, less than 10 percent of 2.9 million store...
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December 08, 2022
Vietnam’s industry minister urges energy, resource investment from S. Korea
...ope South Korean companies invest in mineral resource development here, that is essential to the energy industry,” the minister said during an interview with The Korea Herald and Herald Business at Lotte Hotel in central Seoul. The minister stressed that two of the three memorandums o...
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December 07, 2022
Korea, Vietnam pledge economic alliance
...e Korea-Vietnam Business Forum, hosted by the Korea Chamber of Commerce and Industry, was held at Lotte Hotel Seoul on Tuesday to commemorate the 30th anniversary of bilateral diplomatic ties. The Vie.... Korean business figures such as Posco International CEO Joo Si-bo, SK Inc. CEO Ja...
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November 28, 2022
Breaking the glass ceiling: Chaebol groups make breakthrough with female leaders
...te, but for one of the nation’s top five chaebol groups, to appoint a female CEO who is not a member of the founding family. The top five business groups also include Samsung, SK, Hyundai Motor and Lotte. Joining LG H&H in 1986, Lee is known to have played a leading role in nurturing ...
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November 20, 2022
Royal suite and 400 rooms: No expense spared for Saudi crown prince's visit
...that goes for 22 million won ($16,449) a night. According to industry insiders, Saudi Arabia's Crown Prince Mohammed bin Salman arrived at Seoul Air Base around midnight and spent the night at the Lotte Hotel Seoul, a luxury business hotel situated in central Seoul. The prince stayed ...
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November 17, 2022
Conglomerates asked to pledge big for Busan Expo bid
...id by its crown jewel Samsung Electronics alone. SK Group, with Chairman Chey Tae-won who doubles as the KCCI chief, is to match that with 7 billion won as well. Hyundai Motor Group, LG Group and Lotte Group also offered to pay 4 billion won, 3 billion won and 2 billion won, respectiv...
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November 14, 2022
More businesses face downgrade in credit ratings
...period (within one or two years). Nice Investors Service have recently included several units of Lotte Group in the list for feasible downgrades. Its measure came after Lotte Chemical publicized its...ast worries over financial burden, involving investment costs, and include...
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November 14, 2022
Milk inflation accelerates
...orted milk jumped from 37.2 percent to 54.3 percent. Drying up demand for local milk has led to the underperformance of domestic dairy companies. Purmil, the dairy manufacturer previously owned by Lotte Group, said Thursday it will downsize 30 percent of its workforce, citing the need ...
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November 11, 2022
Dairy company Purmil reverses course on business termination
...made after an agreement was reached between management and labor, it added. The company intends to continue its business operations until a suitable buyer for the company is found. The previously Lotte-owned dairy company's decision to lay off the entirety of its staff via a post on t...
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November 10, 2022
Korea declares road map to become hydrogen industry powerhouse
...enewable energy without resorting to fossil fuels by 2050. At the meeting, the Ministry of Science and ICT made public ways to support hydrogen technology development for the private sector. Conglomerates and public firms, which will actively participate in the state-led project, will include S...
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November 03, 2022
Lotte to inject W1tr to expand online grocery business
Lotte Shopping, the e-commerce arm under retail giant Lotte, said Wednesday it plans to inject some 1 trillion won ($705 million) to boost its online grocery business. In partnership with Ocado, UK’s retail solutions provider, the company will adopt the Ocado Smart Platform, w...
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November 01, 2022
Naver, Kakao open online spaces for mourning
...ndai Seoul in Yeouido had begun a daily lighting show featuring 6,000 lights, a 13-meter Christmas tree and 120 smaller ones last Friday, but stopped lighting the trees after the Itaewon disaster. Lotte Department Store put off its plan to unveil its Christmas decorations this Thursday...
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October 31, 2022
Retailers cancel Halloween-themed marketing events
... national mourning period throughout the week. The nation's top two retail giants, Shinsegae and Lotte said Sunday they made adjustments to their planned holiday campaigns out of respect for the vict...es are also tearing down celebration balloons and decor,” said an official from Sta...
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October 23, 2022
Robot dogs, snakes to patrol industrial sites for safety
...the only two companies testing collaboration between robots and humans at industrial sites in Korea. A list of builders, including Herald Corp. parent company Junheung Construction, Hanwha E&C and Lotte E&C are also using robots at industrial sites. Hanwha E&C and Lotte E&C a...
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October 12, 2022
Lotte signs W2.7tr deal to acquire Iljin Materials
South Korean business conglomerate Lotte Group has signed a deal to acquire a controlling stake in Iljin Materials, a copper foil supplier to electric vehicle battery makers for 2.7 trillion won ($1.9 billion), in Lotte's move to enhance the EV component portfolio, filings showe...
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October 11, 2022
Amid weakening won, US cross-border shopping less attractive to Koreans
...t the won. Purchases made through Japanese online platforms jumped 11.7 percent compared to the previous quarter. Retailers are targeting local cross-border shoppers with cost-effective products. Lotte On, the e-commerce arm of the retail giant Lotte, is selling more than 15...
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October 10, 2022
Korean duty-free shops strive to reduce reliance on China
... the resumption of international travel around the world, local retailers, especially the top two Lotte and Shinsegae, had pinned high hopes on the potential return of Chinese travelers to make up the...and departing passengers, we think the city has greatly reduced its reliance on Chin...
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October 04, 2022
Hyundai Steel expands earthquake-proof H Core lineup
...ording to the company, H Core is the first earthquake-resistant construction materials brand launched in Korea. Some well-known structures that use H Core material include the world’s fifth-tallest building Lotte World Tower, located in Songpa-gu, Seoul, and South Korea’s science res...
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September 30, 2022
Lotte’s overseas spending exceeds W7tr this year
South Korean retail-to-chemical giant Lotte Group said Thursday its overseas investment has exceeded 7 trillion won ($4.9 billion) this year. So far, the largest overseas project is Lotte Chemical’s...e retail giant plans to open Lotte Mall Hanoi, following the inves...