How is Lotte's business in China?

According to a report by Reuters on April 3rd, Lotte Group said on the 3rd that although the land exchange issue of "Sade" has brought severe challenges to the business development of Lotte Group in China, it is a rumor to reduce investment in China, and Lotte Group will continue to invest in China.

Hwang Kag-gyu, senior executive of Lotte Group, said, "Lotte Group has entered the China market for 20 years, and we believe that China business is still in the investment period." At present, the problem of "Sade" cannot be solved by one company, and Lotte Group has no better coping strategy except waiting.

"As a market, China has not been fully developed, especially in the central and western regions," said an official of Lotte Group who declined to disclose specific information. In order to achieve global development, the China market is indispensable. "

A spokesman for Lotte Mart said that as of April 2, Lotte had 99 large shopping malls in China, of which 75 had closed down.

China is the largest overseas market of Lotte Group, and its operating income in China in 20 16 was about 3 trillion won. Due to the slow growth of domestic retail business, Lotte Group listed China, Viet Nam, Russian Federation and Indonesia as four overseas strategic markets.