Chairman Shin Dongbin of Lotte: "Vietnam Is a Key Market... We Must Strengthen Core Businesses and Pioneer New Ones"

First Overseas Field Management of the Year: Visit to Vietnam from April 21 to 24
Discussions on Cooperation with Senior Vietnamese Officials... Expanding Role as Private Sector Diplomat

Lotte Group Chairman Shin Dongbin visited Hanoi, Vietnam from April 21 to 24 as his first overseas field management activity of the year. During this visit, Chairman Shin toured key business sites such as Lotte Mall Westlake Hanoi and Lotte Center Hanoi, and met with Vu Dai Thang, Chairman of the Hanoi People's Committee, to discuss urban development and ways to enhance cooperation between the two countries.

Shin Dong-bin, Chairman of Lotte Group (second from the right), is inspecting the Lotte Mart store at Lotte Mall West Lake Hanoi, located in Hanoi, Vietnam on the 23rd. Lotte Group

On April 23, Chairman Shin received updates on the business operations of major affiliates, including Lotte Department Store, Lotte Mart, and Lotte Hotel, at Lotte Mall Westlake Hanoi and conducted an on-site inspection. Since its opening in September 2023, Lotte Mall Westlake Hanoi has established itself as a hub that embodies Lotte Group's retail and tourism capabilities, and is recognized locally as a prime example of 'K-Retail.' The cumulative number of visitors surpassed 30 million as of last month, and sales reached approximately 600 billion won as of the end of last year, with expectations to exceed 1 trillion won this year.

Chairman Shin remarked, "Vietnam is a key country for the Group's global business, and it is very encouraging to see continued growth in core areas such as food and retail. While strengthening the market competitiveness of our existing main businesses, we must also focus on pioneering new businesses such as advanced urban development, eco-friendly materials industries, and state-of-the-art logistics."

Additionally, Chairman Shin visited the 'Cau Tu Ni' youth football program promotion center located within Lotte Mall to review local sports development activities. 'Cau Tu Ni' is content produced in collaboration between Vietnam's national broadcaster and Lotte Group, featuring the discovery process of promising young football players and gaining significant popularity locally. During the visit, Chairman Shin met with Kim Sang Sik, coach of the Vietnamese national football team, to encourage the team's achievements and express his commitment to supporting youth football development.

Earlier, on April 22, Chairman Shin held a series of meetings with key Vietnamese figures, including Vu Dai Thang, Chairman of the Hanoi People's Committee, To An So, Party Secretary General, and advisors to the President, to discuss investment and urban development cooperation. Chairman Shin highlighted the achievements of over 30 years of investment in Vietnam and shared plans to contribute to regional development through a variety of projects leveraging the Group's strengths.

Meanwhile, Chairman Shin is also working to expand economic cooperation by attending official events such as state banquets and business forums. Having participated in economic delegations in countries such as Indonesia and the Philippines, he continues to broaden his role as a private sector diplomat, building bridges between nations beyond his position as a business leader.

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