Is lg Lotte?

LG is not Lotte Korea LG Group 1947 was established in Seoul, South Korea, located at No.20 Ruyi Road East, Yongdengpu District, Seoul. It is an international enterprise group leading the development of the world industry. Its subsidiaries are: LG Electronics, LG Display, LG Chemical, LG Life and Health, etc. , covering chemical energy, electronic appliances, communications and services.

Lotte Group is one of the five largest groups in Korea and one of the top 500 multinational companies in the world. With the strategy of globalization, we will vigorously develop retail, food, tourism, petrochemical real estate and finance in nearly 20 countries around the world. Lotte entered the China market from 1994, including food, retail, tourism, petrochemical, construction, manufacturing, finance, service, film and television and many other fields.

Related events:

201July 30th, 8 Since China implemented the "Sade" countermeasures against Lotte Group in South Korea last year, Lotte Group's sales in China have plummeted, and there is no sign of any rebound so far. Unbearable Lotte is ready to sell its department store business in China. "After selling the supermarket business, Lotte sells the department store business again, which means that Lotte is completely withdrawing from the retail market in China."

South Korean industry insiders confirmed on the 29th that two Lotte Department Stores in Tianjin and Lotte Department Store in Weihai, which leased the venue, will be the priority targets for abolition. Lotte department stores in Shenyang and Chengdu will continue to operate for some time in the future because they operate in Lotte Complex. According to the report, in fact, Lotte Department Store's business in China has been unsatisfactory in recent years, and it continued to lose money from 20 16 to 20 18.

It is reported that Lotte's supermarket business in China will be completely terminated in the next one to two months. Affected by "Sade", 96 of Lotte Supermarket's 1 12 stores in China have been sold in May this year, and another 14 stores will be sold or closed sporadically.