Hwang Beom-seok, CEO of Lotte Department Store, Sends Thank You Letter to SME Partners Amid COVID-19 Crisis

Delivering Watermelon for Chobok Season

[Asia Economy Reporter Cha Min-young] Lotte Department Store announced on the 14th that it will deliver 750 watermelons to 370 small and medium-sized partner companies along with a letter of appreciation from Hwang Beom-seok, head of the department store business division, to celebrate Chobok on the 16th.

This Chobok gift carries the meaning of gratitude to the partner companies who have overcome the difficulties of COVID-19 together and recently prepared the Donghaeng Sale together.

Recently, Lotte Department Store's sales grew by 4% as the Donghaeng Sale successfully changed the atmosphere, but the total sales for the first half of the year declined by 12% compared to the same period last year. Partner companies also faced difficulties in sales and inventory clearance.

Representative Hwang Beom-seok said, “I sincerely thank the executives and employees of partner companies who have steadfastly kept their positions despite the internal and external difficulties caused by the novel coronavirus infection (COVID-19). We will do our utmost to overcome difficult situations based on strong trust and grow together.”

Since his inauguration, Representative Hwang has emphasized communication with partner companies. He promoted one-on-one matching between buyers and partners, small group meetings by product category, and examined the management difficulties of small and medium-sized partner companies. For the more than 800 partner companies participating in the recent Donghaeng Sale, margin reductions were applied, and for about 600 small and medium-sized partner companies, approximately 90 billion KRW in product sales proceeds for the month of June were paid up to 20 days in advance.

This content was produced with the assistance of AI translation services.