South Korean conglomerate Lotte Group has shifted focus to Vietnam’s retail market after a decision to withdraw from China in 2017, following China’s retaliation against the company over the U.S. anti-missile system deployment in South Korea.
The company is looking to make Vietnam its third-largest market after Korea and Japan. Lotte Group entered Vietnam in 1998 with its fast-food business Lotteria and has since expanded to 270 locations. The firm operates 15 Lotte mart stores and two department stores in Vietnam, with more projects underway.
