Get Daily Updates
My HanCinema | Sign up, Why ? Your E-mail   Password    Auto| Help
HanCinema :: The Korean Movie and Drama Database, discover the South Korean cinema and drama diversity Contact HanCinema HanCinema on TwitterFaceBook HanCinema PageHanCinema on Twitter

Lotte Shifts Overseas Business from China to Southeast Asia

2019/06/02 Source

Lotte has shifted the focus of its overseas business operations from China to Southeast Asia after a boycott in the world's most populous country dealt it a devastating blow.

The Korean-Japanese conglomerate's sales totaled W84 trillion last year, and 10.6 percent was generated by overseas businesses, up 7.6 percent from the year before when the boycott struck (US$1=W1,190).

Now Malaysia ranked at the top and accounted for 30.3 percent of overseas revenues, followed by Indonesia (13.5 percent), the U.S. (nine percent) and China (7.9 percent).

In 2016, China was still the top market, accounting for 25 percent of Lotte's overseas revenues, but they fell from W2 trillion to W700 billion last year.

Instead Malaysia, which is home to Lotte Chemical Titan, accounted for W2.7 trillion worth of revenues, up around W500 billion. Together, Indonesia, Malaysia, Vietnam and the Philippines accounted for 58.4 percent of total overseas revenues.

But Lotte is also expanding its share of advanced markets. Lotte chairman Shin Dong-bin said in a New Year's address to staff this year vowed to "expand markets in advanced countries" while reconsidering the longstanding strategy of focusing on emerging markets.

Read this article in Korean

Source :

Copy & paste guideline for this article
Always put a link back to the source and HanCinema permalink

Creative Commons License"Lotte Shifts Overseas Business from China to Southeast Asia"
by HanCinema is licensed under a Creative Commons Attribution-Share Alike 3.0 Unported License.
Based on a work from this source

Attention You're reading the news with potential spoilers, make them spoiler free, dismiss



 Previous news
  • S.Korea Named 6th Biggest Power in Asia-Pacific
    2019/06/02 (Source)
    South Korea has been ranked the sixth biggest power in the Asia-Pacific region still dominated by the U.S. The Lowy Institute, an Australian think tank, released its 2019 Asia Power Index on Wednesday. The U.S. topped the list with a score of 84.5, the same as last year, followed by China, which sc,...More

  • Small-Scale Civil Defense Drills Start
    2019/06/02 (Source)
    Soldiers take part in a new civil defense drill in Seoul on Monday. /Yonhap A new four-day civili,...More

  • Big Businesses Still Employ Few Women
    2019/06/02 (Source)
    Only about a quarter of employees in Korea's top 600 businesses were women last year. The Korea Economic Research Institute said Monday that women accounted for just 23.8 percent of 1.19 million workers at the top 600 listed non-financial companies last year, meaning their proportion has inched up ,...More

Subscribe to HanCinema Pure to remove ads from the website (not for episode and movie videos) for US$0.99 monthly or US$7.99 yearly (you can cancel anytime). The first step is to be a member, please click here : Sign up, then a subscribe button will show up.


Remove ads

Sign up




Visible, hide