Lotte Mart details Indonesia plans

Home > Business > Industry

print dictionary print

Lotte Mart details Indonesia plans

테스트

Lotte Mart holds a convention with its Indonesian partners at the Pullman Hotel in Jakarta yesterday, attended by 1,000 officials including Irman Gusman, speaker of the Indonesian legislature and Kim Young-sun, Korean ambassador to Indonesia, to present shared growth plans and its vision for business in Indonesia. Provided by the company

Local discount chain Lotte Mart held a convention with Indonesian partners at the Pullman Hotel in Jakarta yesterday, attended by 1,000 officials including Irman Gusman, speaker of the Indonesian legislature; Kim Young-sun, Korean ambassador to Indonesia; CEOs of major local banks; and 500 local partners.

Under the theme “Together We Go Far,” Lotte Mart presented shared growth plans with partner companies, its vision for businesses in Indonesia, and introduced the company and its business at home and abroad.

Lotte Mart plans to release the so-called “Tongkeun 30 items” at unprecedented prices through a partnership with companies in Indonesia.

The items include necessities such as toilet paper, diapers, instant coffee and sugar, and the retailer plans to expand the number of items to 70 by next year.

“For those small and medium companies that produce excellent products yet struggle to retail them, we will create a sales structure that benefits both consumers and producers,” said a spokesman for Lotte Mart.

In addition, the company will introduce 5,100 items under seven product brands by the end of this year, an increase of 20 percent from last year’s 4,100 items under four brands.

Lotte Mart also said it will expand Korea’s fair trade culture to its Indonesian partner companies by expanding its delivery payment dates for suppliers.

More specifically, the discount store chain will implement an on-time payment campaign to promote long-term shared growth, which expands the delivery payment dates to every Thursday from the current second and fourth Thursdays each month.

Furthermore, to reduce corruption and unfair treatment toward suppliers, it will present case studies in which the retail giant successfully cooperated with small and medium businesses and farms.

“Lotte Mart’s business in Indonesia will not just end in a few years but develop further together with local partner companies,” said Noh Byung-yong, CEO of Lotte Mart. “Its goal is to emerge as an admirable company in Indonesia by supporting the development of private enterprises, as well as generating employment and contributing to the national economy of Indonesia.”

Meanwhile, Lotte Mart incorporated 19 stores of Makro, an established supermarket chain from the Netherlands, in October 2008, as the first Korean retail company to enter the Indonesian market. It currently operates 34 Makro stores in Indonesia and plans to open two more by the end of this year.

Back in Korea, it will hold a Special Product Sales Exhibition of Indonesia and Vietnam at its Jamsil, Seoul Station, Ansan, Guro and Euiwang stores from today to introduce 100 items.

Those items include popular Indonesian Bali Hai Beer for 2,000 won ($1.86) per 330-milliliter bottle, Indonesian cutlass fish for 2,500 won each, oak benches for 40,000 won, Pro Print A4 copy paper for 17,800 won per 2,500 sheets and 365 grams of Oops Butter Cracker at 5,900 won.



BY Kim Jung-yoon [kjy@joongang.co.kr]

More in Industry

As profits boom, big Korean companies reduce head counts

Hyundai Heavy confirms bid to buy stake in Doosan Infracore

It's a wrap

Joining hands for MOU

Saemangeum support

Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)

What’s Popular Now