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May 27, 2022
SK to spend W247tr on chips, battery, biopharma over next five years
...iveness in producing more advanced chips. Hyundai Motor Group announced plans to spend 63 trillion won by 2025 in its push for full-electric and hydrogen mobility as well as robotics. Retail giant Lotte Group said it will pour 37 trillion won into revitalizing the nation’s economy. O...
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May 25, 2022
Lotte Group to inject W38tr for health, mobility and more shopping malls
South Korean retail giant Lotte Group said Tuesday it is poised to inject 38 trillion won ($30 billion) over the next five years in the new growth-engine sectors -- health and wellness, mobility, and...n won in constructing new shopping malls at Sangam-dong, Mapo-gu in Seoul, and Songdo i...
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May 17, 2022
Corporate Korea gears up for Biden’s state visit
...siding over the event. The nation’s top five conglomerates -– Samsung, SK, Hyundai Motor, LG and Lotte -– and several others like defense and energy specialist Hanwha, solar power firm OCI and intern...teries in the US, a burgeoning EV market, in close partnerships with carmakers th...
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May 08, 2022
Lotte trademarks Lotte Biologics in new bio push
South Korea’s retail giant Lotte Group has registered the trademark of “Lotte Biologics” with the Korean Intellectual Property Office, signaling the conglomerate’s official enter the bio industry. According to the KIPO, Lotte Holdings applied for Lotte B...
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May 05, 2022
Lotte trademarks Lotte Biologics in new bio push
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May 04, 2022
Korean Air president urges to scrap PCR testing upon departure, arrival
...held by the Korea Chamber of Commerce and Industry to discuss measures to revitalize tourism and the service industry. The list of attendees included Chosun Hotel & Resort CEO Han Chae-yang, Hotel Lotte CEO Ahn Se-jin, Korea Association of Travel Agents Chairman Oh Chang-hee and Korea ...
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April 29, 2022
IFA 2022 to bar Russia from joining
...me in-person exhibitions at IFA 2022 after a two-year hiatus. The full-scale event dedicated to consumer electronics and home appliances will take place Sept. 2-6. Among the announced attendees is Lotte Hi-Mart, a South Korean retailer of electronic goods. IFA will also team up with Ko...
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April 28, 2022
Outpacing Hyundai, SK becomes 2nd-largest chaebol
... with expanding income boosted SK’s overall assets by 20 trillion won. It outpaced auto giant Hyundai Motor, which had 257.84 trillion won in total assets. Samsung remained at the top, while LG and Lotte placed fourth and fifth, respectively. The Fair Trade Commission also included Du...
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April 26, 2022
Lobby groups call for Moon’s pardon of Samsung chief
...om late Samsung Chairman Lee Kun-hee. Along with Lee, the five groups representing business circles in Korea also called on Moon to pardon Shin Dong-bin, who chairs Korean-Japanese business group Lotte. Shin received a suspended sentence on charges of 7 billion won in bribes to Park, ...
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April 20, 2022
Large retailers enter e-commerce market for designer goods
... online retailer recently signed official partnership deals with luxury brands, and introduced a digital warranty system using NFTs to prove that brand-name products sold on ssg.com are authentic. Lotte Shopping’s online platform Lotte On opened a beauty section that sells p...
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April 19, 2022
Retailers hope for sales recovery as social dstancing rules removed
... we ease the rules, it could be beneficial to the sales of refrigerated products,” the E-mart official said. Department stores are gearing up to start in-person events that customers can enjoy. A Lotte Department Store official said it will put on small in-store concerts, which have ...
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April 11, 2022
Retail, manufacturing giants turn to bio, healthcare as future strategy
...avily on manufacturing and retail networks for growth are turning to the bio and health care industries to secure future growth engines and expand areas of business. Retail and confectionary giant Lotte Group officially announced that bio and health care businesses will be its new grow...
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March 23, 2022
5 S. Korean CEOs earned more than W10b in 2021: data
...per share, raking in a combined 19.2 billion won. His base salary was 1.6 billion won last year. Lotte Group Chairman Shin Dong-bin followed, receiving a combined 15 billion won from holding group Lo...arned 3.5 billion won from Lotte Corp., 5.9 billion won from Lotte
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March 21, 2022
Carmakers aim to reshape used car market
...ans to launch secondhand services within the year. Their entry could bring huge change to the used car market here, which has been protected by the government until recently for microenterprises. Lotte Rental, which operates a rent-a-car business, announced Friday that it would also e...
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March 17, 2022
Korea backs US economic framework for Indo-Pacific
...ime, it increased exports of car components during the same period from $5.2 billion to $6.9 billion, a 33 percent increase,” said Do at the session jointly by the KCCI and US Chamber of Commerce. Lotte Chemical Senior Managing Director Son Tae-woon said the company had chosen to make...
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March 10, 2022
Choco-Pie makers on alert as Russian isolation deepens
Orion and Lotte Confectionery -- the makers of Choco Pie, a popular snack in Russia -- are closely monitoring the economic sanctions imposed by the international community against Moscow for its inva... change depending on the local situation. Russia’s attack on Ukraine has clouded the ...
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March 10, 2022
No. of female outside board members at large companies grows, but few CEOs
... the companies in a country with dozens of family-run conglomerates, started as rank-and-file staff and climbed the corporate ladder. Other major conglomerates such as Hyundai Motor Group, SK, LG, Lotte and GS don’t have women CEOs at all. Although Samsung’s Hotel Shilla Lee Bu-jin h...
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March 10, 2022
Real estate prices soar on metaverse, too
...build wealth using the blockchain technology. The company said the price of some shares that own Lotte World Tower, the country’s tallest building and one of the most famous landmarks in Seoul, incre...Metaverse 2 official said. “The eight landmarks in Seoul include Seoul City Hall,...
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February 17, 2022
Corporate donations exceed W40b for Korean athletes at Beijing Olympics: FKI
...ea Ski Association receiving the largest amount of 12.64 billion won from 22 companies, including Lotte Group and Shinhan Financial Group. The Korea Ice Hockey Association was given 9.63 billion won ...of Team Korea, also received donations worth 3 billion won from 10 companies, includ...
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February 15, 2022
Chemical firms on high alert for toughened safety law
... Meanwhile, other petrochemical firms are making all-out efforts to prevent a second Yeochun NCC case. In June, LG Chem launched the “Magnolia Project” to overhaul its safety system at work sites. Lotte Chemical recently applied strengthened safety regulations to all work sites, and ...