Lotte reshuffles biz portfolio with Busan store sale to Shinsegae

Korea Times News ·
Business Retail South Korea
South Korea

Lotte Shopping, a retail affiliate of Korea's Lotte Group, said Thursday it has agreed to sell a department store in the southeastern port city of Busan to rival Shinsegae Group as part of its business reorganization. The move is part of the company's "select and focus" strategy, aimed at responding swiftly to rapidly changing retail market conditions through asset sales and business…

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