Lotte Supports Korean SMEs Entering Vietnam... Joint Festival Held Locally

'Donghaeng Festival with Lotte' in Hanoi on the 3rd of Next Month
Promoting Export Consultations, Market Development, and Domestic Demand Activation

Lotte announced on the 29th that it will hold the '2024 Korea Together Festival with Lotte' at Lotte Mall West Lake Hanoi in Hanoi, Vietnam, until the 3rd of next month.

This event is a special opening ceremony of the Korea Together Festival, which is held throughout September by the Ministry of SMEs and Startups with the goal of helping small and medium-sized enterprises (SMEs) and small merchants to develop sales channels and promote domestic demand.

This is the first time the opening ceremony of the Together Festival is held overseas. The event is conducted in collaboration with the 'Lotte-Korea Brand Expo,' where Lotte affiliates help domestic SMEs develop overseas sales channels.

Eight affiliates, including Lotte Holdings, Lotte Mart, Lotte Home Shopping, Korea Seven, and Lotte Himart, are cooperating in the event. Lotte Mall West Lake Hanoi, where the event is held, is the place where Lotte's business capabilities in Vietnam are fully concentrated.

Lotte supports SMEs entering the Vietnamese market by leveraging its 19 affiliates operating in Vietnam across distribution, food, and services. To this end, in July, Lotte Shopping, Lotte Global Logistics, and the Ministry of SMEs and Startups signed a business agreement to support the global expansion of SMEs and small merchants.

On the 29th, the day of the opening ceremony, an export consultation meeting will be held with 80 domestic SMEs and small merchants and local Vietnamese distribution company buyers attending. On the same day, a promotion event for excellent products targeting local customers will also be operated at Lotte Mart on the basement first floor of Lotte Mall West Lake Hanoi.

Through this event, Lotte expects that SME representatives will be able to directly meet local buyers and customers to enhance their understanding of the Vietnamese market while grasping customer trends.

A Lotte official said, "Since Lotte has entered various fields such as distribution, food, and services in Vietnam, we expect to provide significant support for developing sales channels and promoting SME products," adding, "We will continue various support activities so that excellent SMEs can knock on the global market."

Meanwhile, Lotte has held the group’s integrated win-win event, the 'Lotte-Korea Brand Expo,' in Germany and the United States in 2022, in Australia and Indonesia in 2023, and in Mexico last June. Through export consultations, it recorded achievements of ▲$29 million in Germany ▲$51 million in the United States ▲$62 million in Australia ▲$30.2 million in Indonesia ▲$21.7 million in Mexico.

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