Lotte Wants to Open 60 Supermarkets in Vietnam

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Vietnam’s retail market has the highest growth rate in the region, therefore Lotte expects to grow further through setting up more retail business or M&A activity in Vietnam.

South Korea is the largest investor in Vietnam with over 4,000 enterprises, total investment in Vietnam as of July 2015 is 32.8 billion USD.

Among South Korean firms investing in Vietnam, Lotte Mart is one of the corporations with the most powerful investment force and they are leading in a number of areas with the models of retail, hotel, cinema…

Mr. Hong Won Sik, CEO of Lotte Mart Vietnam said that Vietnam’s retail market has the highest growth rate in the region, therefore Lotte wants to invest more. The target is to open 60 supermarkets till 2020 and now they have opened 11 supermarkets in Vietnam.

Some of the current Lotte shopping centers have made a big impression on Vietnam consumers and the investment from Lottle makes it to be one of the biggest players on the retail landscape in Vietnam.

Finding the right business partner in Vietnam is also important. We recommend doing research on the reputation of the company and individual shareholders, corporate or individual, gathering publicly available company information, and performing background checks on key personnel to find potential risks in cooperation. Working with a reliable partner can help achieve economic benefits, saving time and money in business.

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