Korean Conglomerate Lotte Abandons Chinese Market, Shifts to Southeast Asia

Lotte Group has fully abandoned the Chinese market and stepped up its investment in Southeast Asia, in particular Vietnam and Indonesia.
This year marks the 30th anniversary of the establishment of diplomatic ties between South Korea and China. It also marks the 30th anniversary of South Korea’s diplomatic ties with Vietnam.
In 2020, Lotte Group ranked fifth among Korean chaebols—large family-run conglomerates—after Samsung, Hyundai Motor, SK, and LG. Lotte is the only one of Korea’s top 10 conglomerates with headquarters in Japan.
Lotte World Tower, its Korean headquarters, has 123 stories and is 555 meters high. It is the sixth tallest skyscraper in the world, surpassing New York’s One World Trade Center. Lotte’s business scope includes food, department stores, entertainment, finance, chemicals, and many other fields….

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