Lotte Shopping Co. is set to establish an international headquarters in Singapore this year, signaling a push into Southeast Asia’s burgeoning retail market. Vice Chairman and CEO Kim Sang-hyun unveiled the plan at a recent investor event in Seoul, highlighting it as a key component of the company’s Transformation 2.0 strategy.
The Singapore hub, to be managed by Lotte Shopping Holdings (SINGAPORE) PTE. LTD., will oversee the Korean retailer’s Southeast Asian operations. Kim cited promising results in the region, particularly in Hanoi, as driving the expansion.
Lotte Shopping has revised its long-term targets, now aiming for sales of 20.3 trillion won ($15.6 billion) and operating profit of 1.3 trillion won by 2030. The company seeks to grow its overseas business to 3 trillion won in sales, adapting to sluggish domestic market conditions.
In a bid to boost shareholder value, Lotte Shopping announced plans to increase its shareholder return rate to 35% and implement a minimum dividend of 3,500 won per share. The company also committed to reducing greenhouse gas emissions by 40% by 2030, compared to 2018 levels.
