The Lotte Group is a Korean-based conglomerate with subsidiaries in different sectors, although the company is perhaps best known for the confectionary and department store lines. Headquartered in the Songpa District of Seoul, South Korea, the Lotte Group earned just under US$231,000,000 in 2018, making it the country’s fifth-largest conglomerate and single largest confectionary manufacturer. Lotte’s major subdivision segments include Lotte Shopping (the department store segment), discount stores, electronics stores, convenience stores, financial services and a catch-all segment which includes hotels, beverages, chemicals, publishing and entertainment. In total, the Lotte Group operates more than 90 business units employing 60,000 people worldwide. The company was founded in 1948 in Tokyo by Japanese-Korean entrepreneur Shin Kyuk-ho. Nearly two decades later, he would expand operations to South Korea with the establishment of Lotte Confectionery. Lotte Shopping is one of the more recognizable business units within the umbrella through both Lotte Mart and Lotte Department Store. The latter operates across South Korea as well as internationally in Vietnam, Russia, Indonesia and China. As of 2018, Lotte’s Chinese presence diminished slightly after the company sold 21 Beijing stores to Chinese supermarket giant Wumei Holdings Inc for $224 million U.S.
- Family name: Shing Dong family
- Sector: Consumer Products & Retail
- Founded: 1979
- Founder: Shin Kyuk-ho
- Country: South Korea
- Company headquarters: Seoul, South Korea
- Managers: Lee Won-Joon
- Revenue: 24.8
- Rankings: 445 [Fortune 500]
- Family ownership: 94,8%
- Employees: 38,927
- Website: www.ellotte.com
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