Lotte Home Shopping Awarded '7 Million Dollar Export Tower'

The 57th 'Trade Day' Commemoration Ceremony

Lotte Homeshopping announced on the 8th that it received the '7 Million Dollar Export Tower' award at the 57th Trade Day ceremony held at the COEX Auditorium in Samseong-dong, Seoul. The photo shows Lotte Homeshopping conducting a Korean product export consultation meeting at the 'Korea Brand Expo in Moscow' in Moscow, Russia, in 2019. Photo by Lotte Homeshopping

[Asia Economy Reporter Cha Min-young] Lotte Homeshopping announced on the 8th that it received the ‘7 Million Dollar Export Tower’ award at the 57th Trade Day ceremony held at the COEX Auditorium in Samseong-dong, Seoul.

The Trade Day awards ceremony, hosted by the Korea International Trade Association and organized by the Ministry of Trade, Industry and Energy, is an event that annually selects companies that have contributed to pioneering overseas markets and increasing exports, awarding them the Export Tower.

Starting with the ‘1 Million Dollar Export Tower’ in 2016, Lotte Homeshopping achieved export amounts of 3 million dollars in 2018, 5 million dollars in 2019, and this year reached 8.2 million dollars (approximately 10 billion KRW). The data is based on the period from July 1, 2019, to June 30, 2020.

This year, 90 domestic small and medium-sized enterprises (SMEs) entered overseas markets through Lotte Homeshopping, with 280 export transactions, more than four times the numbers in 2016. Among all exported products, 98% are SME products.

Lotte Homeshopping actively supports the overseas export of SME products that face difficulties in market development, and as a result of continuously pursuing diversification of export countries and expansion of product categories, it has won the Export Tower award for three consecutive years.

In 2018, CEO Lee Wan-shin was recognized for doubling the export amount within one year of his appointment and became the first in the industry to receive the Bronze Tower Order of Industrial Service Merit for export achievements. Since 2018, Lotte Homeshopping has expanded its export countries from Taiwan to include Japan, Thailand, Indonesia, and other Asian countries, as well as the Americas such as the United States and Canada. This year, it successfully exported products to a total of 14 countries, including exporting to local home shopping channels in Dubai.

Additionally, since 2016, Lotte Homeshopping has continuously operated the ‘Korea Brand Expo,’ which conducts one-on-one export consultations overseas for domestic SMEs. Over the past three years, in collaboration with the Ministry of SMEs and Startups and the Foundation for Cooperation between Large, Small, and Medium Enterprises in Agriculture, Forestry and Fisheries, it has supported video production costs for overseas home shopping for about 70 SMEs. Going forward, it plans to support the production of media content linked with overseas influencers in line with the activation of the global media commerce market.

Lee Wan-shin, CEO of Lotte Homeshopping, said, “As a result of actively promoting the overseas export of domestic SME products that face difficulties in market development, we have received the 3 million dollar Export Tower in 2018, the 5 million dollar Export Tower in 2019, and this year the 7 million dollar Export Tower. We are very pleased to receive the Export Tower award for three consecutive years, and we will continue to actively support the overseas expansion of domestic SMEs based on Lotte Homeshopping’s product strength and export know-how.”

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