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Lotte Duty Free (LDF; Korean: 롯데면세점; Hanja: 樂天免稅店; RR: Rotde Myeonsejeom), a duty-free division of Hotel Lotte, is a travel retailer headquartered in Seoul, South Korea. LDF is one of the largest travel retailers in the world alongside Dufry and DFS Group .
Lotte Group is a corporate group started by Zainichi Korean businessman Shin Kyuk-ho in Tokyo on June 28, 1948, starting with the Japanese Lotte Co., composed of Lotte Holdings (Japan) and Lotte Corporation (South Korea).
In order to secure a duty-free deal for Lotte, Shin was accused of donating ₩7 billion (US$6.12 million) to a non-profit controlled by incumbent President Park Geun-hye's close friend Choi Soon-sil. [29] On 13 February 2018 Shin was fined ₩7 billion (US$6.12 million) and sentenced to 2.5 years incarceration. [30]
Lotte Holdings Co., Ltd. (株式会社ロッテホールディングス, kabushiki gaisha Rottehōrudingusu) is a Japanese multinational holding company which focused on confectionery and ice cream processing, hotels and sport management. The company was founded in June 1948 by Korean businessman Shin Kyuk-ho.
Lotte Group was originally established in Japan and expanded into South Korea with the establishment of Lotte Confectionery Co., Ltd in 1967. Lotte Group consists of over 60 business units in such diverse industries as candy manufacturing, beverages, hotels, fast food, retail, financial services, heavy chemicals, electronics, IT, construction, publishing, and entertainment.
Lotte runs a home appliance retailer by acquiring Hi-Mart for 1.25 trillion won in 2012. Hi-Mart was the nation's top consumer electronics retailer, with 314 stores. [ 6 ] Lotte Shopping also had the multiplex cinema chain Lotte Cinema under its wing but decided to spin off the cinema business department as a subsidiary, Lotte Cultureworks, in ...
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The Lotte World Mall was finally opened in October 2014, with Avenue L, Lotte Mart, and Hi-Mart opening on October 14 and Lotte Cinema, Lotte Duty-Free Shop, and Lotte World Aquarium opening on October 15. [6] In December, the Lotte World Mall's cinema and aquarium were closed due to screen vibrations and a tank leak, respectively. [7]