Lotte’s Shin heads to Vietnam, Indonesia

Home > Business > Industry

print dictionary print

Lotte’s Shin heads to Vietnam, Indonesia

The head of Korean retail giant Lotte Group left for Vietnam and Indonesia on Monday as the conglomerate moves to expand its presence in emerging Asian markets.

The trip is Chairman Shin Dong-bin’s second foreign outing, following a visit to Japan, after being released from jail in October. The tycoon was imprisoned for his involvement in a corruption scandal that led to the ousting of former President Park Geun-hye.

Shin is first scheduled to visit the Lotte Center Hanoi - a building with malls, offices and residences - in the Vietnamese capital on Monday. He will then visit Lotte Mall, a massive shopping complex, which is scheduled to open in 2022.

The businessman will next hold a meeting with Vietnamese Prime Minister Nguyen Xuan Phuc on Tuesday before leaving for Ho Chi Minh City to visit other construction sites, including a Lotte complex tour.

The company has been making aggressive inroads into Vietnam and operates 16 affiliates with 11,000 employees there.

On Thursday, Shin will travel to Indonesia, where he will visit the site of a complex to be developed by the business group’s chemical arm, Lotte Chemical. The chemical firm is pushing to spend 4 trillion won ($3.55 billion) to build the facility.


Yonhap

More in Industry

Sale of Doosan Infracore stake could be opportunity for Hyundai Heavy

Volvo XC60 ranks No. 1 for residual value in Encar study

Binggrae to scoop up ice cream competitor after FTC approves merger

LG accepting orders for rollable, $85K television

Shinsegae Group chair passes down shares to children

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