Lotte Group, South Korea’s fifth-largest conglomerate, is set to boost the global sales channels of some 200 Korean small and medium-sized enterprises in the home appliance and home care industries by holding two global exhibitions next month.
The group will partner with the Korean government to host the Lotte-Korea Brand EXPO Sept. 5-6 in Berlin and Sept. 20-21 in New York, Lotte said on Wednesday.
The 200 SMEs consist of 100 partners of the group’s six distribution affiliates – Lotte Homeshopping Inc., Lotte Department Store Co., Lotte Mart Co., Lotte Duty Free Co., Lotte Hi-Mart Co. and Korea Seven Co. – and another 100 firms that are not group partners but stand out with high-quality products.
Lotte and 50 of the SMEs will participate in IFA 2022 in Berlin, one of the world’s largest trade shows for consumer electronics and home appliances. Lotte will operate an integrated exhibition booth and host sales promotion events and trade consulting sessions with global buyers.
The Korean conglomerate will also operate the exhibition booth at Pier 17, a premier culture and entertainment destination in New York, with the other 150 SMEs. Lotte will host Korean food and beauty shows with renowned chefs and make-up artists, as well as online and offline trade consulting sessions.
It is the first time for the group to support Korean SMEs' global businesses on such a large scale. In May, Lotte Group Chairman Shin Dong-bin announced that the group and its distribution affiliates will proactively set up plans for mutual cooperation with smaller companies in Korea.
The chairman is accelerating his business activities as he was granted a special pardon by Korean President Yoon Suk-yeol on Aug. 15 alongside other three Korean conglomerates leaders, Samsung Group Vice Chairman Jay Y. Lee, Dongkuk Steel Mill Co. Chairman Chang Sae-joo and former STX Group Chairman Kang Duk-soo.
The Lotte chairman also participated in the Consumer Goods Forum (CGF) held in Dublin in June and has appealed for global support to bring the World Expo 2030 to Busan.
“Lotte Shopping is making strong efforts to intensify its private brand (PB) competitiveness. The shopping affiliate may be able to cooperate with SMEs in looking for PB goods targeting the US and European markets,” said a Lotte Group official.
Write to Dong-Hui Park at donghuip@hankyung.com
Jihyun Kim edited this article.
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