Korea Joongang Daily
Korea JoongAng Daily

Lotte Group to acquire site of Lotte New York Palace hotel for $490 million

Lotte Group will acquire the site of the hotel Lotte New York Palace in Manhattan for $490 million as part of broader efforts to secure long-term operational stability for the hotel and strengthen its global brand value.

2025-12-15

Retail leaders counting on AI to 'improve,' not replace, traditional in-store experience

Kim Sang-hyun, vice chairman and CEO of Lotte Retail Group, said Wednesday that digital transformation is reshaping the retail landscape across Asia — not as a way to replace physical stores, but to “reinvent and improve” them.

2025-10-29

Lotte Group chief makes first inspection tour of U.S. bio campus since 2023 acquisition

Lotte Group Chairman Shin Dong-bin visited the group’s U.S. biopharmaceutical hub in Syracuse, New York, on Sunday, marking his first inspection of the site since its acquisition in 2023.

2025-10-09

Burger chain Lotteria to open 1st outlet in Malaysia this year

Lotteria will open its first Malaysian outlet this year and plans 30 locations in five years as part of expansion strategy.

2025-08-06

Lotte E&C mulls sale of headquarters to boost solvency

Lotte Engineering & Construction is looking to sell its 500 billion won headquarters as it seeks ways to lower its debt ratio, most recently sitting at 217 percent.

2025-02-27

Lotte Chemical to sell Pakistani subsidiary amid persistent liquidity crisis rumors

Lotte Chemical is finalizing the sale of its Pakistani unit amid rumors of a groupwide liquidity crisis.

2025-02-17

Lotte Group to discuss cutting costs at upcoming executive meeting

Lotte Group will hold a meeting to strategize for 2023 under potential liquidity concerns. With 80 executives attending, the focus will be on new business models, cost-cutting, and reassuring investors.

2025-01-07

Busy in Busan: Lotte Group makes kimchi for needy households

Employees of Lotte Group affiliates and civic groups make kimchi at Sajik Baseball Stadium in Busan on Tuesday.

2024-12-03

Lotte Chemical assures investors it can pay back its debts

Lotte Group, rumored to be facing a liquidity crisis, assured investors Thursday that subsidiary Lotte Chemical has enough cash to pay back its debts despite having breached the terms of a loan agreement.

2024-11-21

Constitutional Court tosses complaint about Thaad deployment

The Constitutional Court on Friday dismissed two petitions by Won Buddhist followers and residents of Seongju, North Gyeongsang, who claimed that the system's deployment violated their rights.

2024-03-29