Top Biz News

Lotte hungers for more sales

By Wang Zhenghua (China Daily)
Updated: 2007-03-20 09:09

"The 27 professionals we hired last year are receiving intense training abroad. They will be deployed in China to hold key positions this September," Nishimura said.

Founded by Shin Kyuk Ho in Japan in 1948 as a bubble gum maker, Lotte Group now runs 44 companies in South Korea, 19 in Japan and 18 in China.

So far, Lotte, a food and leisure group spanning hotels, confectionery and amusement parks, has injected $364 million and holds assets worth $2.89 billion in China.

On January 29, South Korea's Lotte Confectionary Co and Hershey, the largest US candy maker, signed an agreement to create an $80 million venture to market products in China. From August, they will distribute their own products here through each other's networks.