Lotte Mart, 50% Discount Event on Grade 1 Hanwoo Sirloin...

CEO Kang Sung-hyun Visits Nonghyup Eumseong Livestock Products Market

Customers are purchasing Korean beef at Lotte Mart Zeta Flex Jamsil branch.
[Photo by Lotte Mart]

Lotte Mart announced on the 8th that from the 9th to the 11th, it will sell Grade 1 Korean beef sirloin at a 50% discount when paid with event cards.

Kang Seong-hyun, CEO of Lotte Mart, visited the Nonghyup Eumseong Livestock Auction Market on the 21st of last month to inspect the supply structure for the Korean beef event and review the status of direct Korean beef auctions. He also held a meeting with Nonghyup officials and livestock farm partners to discuss ways for customers and farmers to coexist, and took time to encourage Lotte Mart local merchandisers (MDs) working at the production sites for supply chain management.

Since 2019, Lotte Mart’s Korean beef MDs have participated daily in direct Korean beef auctions at the Eumseong and Bucheon livestock auction markets to carefully select high-quality Korean beef. Based on this, they have reduced the intermediate distribution process, which involves 7 to 8 steps, securing the most important factors of Korean beef: taste, freshness, and price competitiveness. According to Lotte Mart, sales of Korean beef soup cuts and bulgogi during last month’s event surged by more than 380% compared to the same period last year.

A Lotte Mart representative said, “With the mission to provide customers with high-quality Korean beef at reasonable prices, and the goal of setting a new standard for Korean beef prices in this era of high inflation, we prepared this event. From last month’s one-month Korean beef event to this three-day event, we will strive to be a bridge that supports coexistence between customers and farmers through various promotions reflecting the production site market prices.”

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