Lotte Rental establishes UAE subsidiary

Lotte Auto Global Middle East FZE will boost used car sales in MENA and CIS market

Lotte Rental establishes UAE subsidiary
Jin-Won Kim 1
2024-08-01 13:33:46 jin1@hankyung.com
Automobiles

South Korea's Lotte Rental Co. said on Thursday that it established an overseas subsidiary in Dubai, United Arab Emirates (UAE), to boost the export of used cars in the global market. 

The subsidiary is named Lotte Auto Global Middle East FZE.

Lotte Auto Global, a specialized brand of Lotte Rental for used car exports, was launched in 2019.

With the establishment of the UAE subsidiary, Lotte Rental aims to enhance its used car export business.

The company plans to increase the global recognition of Lotte Auto Global and expand its used car sales to the Middle East-North Africa (MENA) and Commonwealth of Independent States (CIS) regions.

Lotte Rental expects that direct marking and sales overseas will improve profitability.

Write to Jin-Won Kim at jin1@hankyung.com

Lotte Rental to service Vietnam's individual long-term rental

Lotte Rental to service Vietnam's individual long-term rental

Lotte Rental Co., South Korea's largest car rental firm, announced on Monday that it will enter Vietnam's individual long-term car rental market in the second half of this year.Since establishing its Vietnamese subsidiary in 2007, the company has provided commuter buses and business-purpose sh

Lotte Rental launches driver-inclusive rental service in Vietnam

Lotte Rental launches driver-inclusive rental service in Vietnam

Lotte Rental Co., South Korea's largest car rental firm, announced on Monday that it has launched a "Vietnam Driver-inclusive Rental Car."The service allows customers to travel between airports and accommodations in rental cars with chauffeurs included, with the option to choose round-trip or

Lotte Rental, KB Capital to co-work for car rental

Lotte Rental, KB Capital to co-work for car rental

Lotte Rental Co., South Korea's largest car rental firm, has signed a strategic memorandum of understanding (MOU) with the domestic financial company KB Capital to collaborate and strengthen rental business on Thursday. Under the MOU, the two companies will launch joint marketing campaigns t

Lotte Rental drops plan to enter Korea’s secondhand car sales market

Lotte Rental drops plan to enter Korea’s secondhand car sales market

Lotte Rental CEO Choi Jin-hwan unveils the company's business plans during its CEO IR Day Lotte Rental Co., South Korea’s largest car rental firm, has dropped its plan to enter the domestic used car sales market. Instead, it will strengthen its used car rental and commercial vehicle leasi

(* comment hide *}