Lotte Members Signs Business Agreement with Online Farm

On the 16th, at the Lotte Members conference room in Sunhwa-dong, Seoul, Jeon Hyung-sik, CEO of Lotte Members (right in the photo), and Woo Gi-seok, CEO of Online Farm, took a commemorative photo after signing a business agreement to establish a mutual cooperation relationship and promote mutual growth.

[Asia Economy Reporter Lim Hye-sun] Lotte Members signed a business agreement on the 16th with Online Pharm, a pharmaceutical and healthcare product distribution company affiliated with Hanmi Science, to establish a mutual cooperative relationship and promote mutual growth.

The signing ceremony was attended by key officials including Jeon Hyung-sik, CEO of Lotte Members; Woo Gi-seok, CEO of Online Pharm; Kim Tae-hong, Head of Consulting Division 2 at Lotte Members; and Lee Sang-guk, Director of Online Pharm.

Through this agreement, both companies plan to integrate their systems so that pharmacists, who are Online Pharm customers, can use L.Pay easy payment and L.Point services on both online and offline pharmaceutical purchasing channels, enabling a more convenient and seamless service experience. They will also collaborate on joint marketing and explore additional business models.

Founded in 2012, Online Pharm operates HMP Mall, an online shopping channel exclusively for pharmacies, and has approximately 20,000 online and offline pharmacy franchise stores nationwide. It currently runs the largest domestic pharmaceutical B2B (business-to-business electronic commerce) distribution network with a monthly transaction volume exceeding 70 billion KRW. The L.Pay easy payment and L.Point usage services will be introduced first to HMP Mall within the year, followed by phased application to offline pharmacies.

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