Lotte Group Chairman Shin Dong-bin recently undertook his inaugural overseas on-site management visit of the year, heading to the prominent Lotte Mall West Lake Hanoi in Vietnam. This strategic move highlights the conglomerate’s unwavering commitment to its expanding global footprint, the group announced Sunday.
During his visit on Thursday, Chairman Shin meticulously reviewed the robust operations of Lotte’s core affiliates across Vietnam, including Lotte Department Store, Lotte Mart, and Lotte Hotel. A key objective was also to fortify collaborative ties with the Vietnamese government, crucial for advancing the group’s ambitious global business expansion strategies.
Inaugurated in September 2023, Lotte Mall West Lake Hanoi stands as a monumental mixed-use complex, proudly hosting flagship Lotte Group entities like Lotte Department Store, Lotte Mart, Lotte Hotel, and the Lotte World Aquarium. This impressive destination has already attracted a cumulative 30 million visitors by last month, with total sales soaring to 600 billion won ($406.3 million) by the close of 2025. Projections indicate that its annual sales are set to surpass an remarkable 1 trillion won this year, underscoring its significant market impact.
Chairman Shin affirmed Vietnam’s pivotal role, stating, “Vietnam is a key market for our global business, and it is incredibly encouraging to witness substantial growth across our core sectors, especially in food and retail.” He further emphasized the critical need to bolster competitiveness in established operations while vigorously exploring innovative growth avenues, specifically naming urban development, sustainable eco-friendly materials, and advanced logistics solutions.
Demonstrating Lotte’s cultural engagement, Chairman Shin also toured a dedicated promotional hall within the complex for “Cau Thu Nhi,” a popular youth soccer TV program. This initiative, co-produced by Lotte and Vietnam’s state broadcaster VTV since 2011, highlights the group’s long-standing commitment to community development.
Prior to his visit to Lotte Mall, Chairman Shin engaged in high-level discussions with influential Vietnamese officials, including the esteemed chairman of the Hanoi People’s Committee. These pivotal meetings focused on strategic cooperation opportunities in urban development and significant investment initiatives.
Furthermore, Chairman Shin participated in several official diplomatic events, such as a state banquet and a prominent business forum, held during President Lee Jae Myung’s impactful state visit to Vietnam, further solidifying bilateral ties.
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