Lotte heads relocating to World Tower

Home > Business > Industry

print dictionary print

Lotte heads relocating to World Tower

Lotte Group founder and General Chairman Shin Kyuk-ho and his son, group Chairman Shin Dong-bin, will relocate their offices to the controversial Lotte World Tower in Jamsil, southeastern Seoul, by the end of 2016, the company said on Sunday.

Two hundred employees of the group’s policy team, the brains behind the retail conglomerate, will also move to Lotte World Tower. The structure is currently still under construction and is scheduled to be finished next year.

The move is aimed at easing the latest worries over the 555-meter (1,820-foot) edifice’s safety in Jamsil following minor accidents and setbacks. The doors to the Lotte World Mall fell off earlier this year, injuring shoppers, and the news about water leaking in its aquarium unsettled the public, resulting in a sharp decline in the number of visitors.

Lotte declined to comment on the move, but insiders say the two chairmen’s offices are likely to be located between the 108th and 114th floors.

When finished, the building will be 123 stories high.

Other Lotte Group subsidiaries, including Lotte Mart, Lotte Hi-Mart and Lotte Chilsung Beverage, have already relocated to the nearby Jamsil area, and Lotte Supermarket is scheduled to move later this month.

BY LEE SO-AH, PARK JUNG-YOUN [park.jungyoun@joongang.co.kr]

More in Industry

Work at home is not as easy as it sounds, ministry says

Flying visit

[NEWS IN FOCUS] Spotify is still almost here, and seems to be getting closer

Korea Inc. calls on Suga to relax border restrictions

House-bound consumers awaken a sleeping industry

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