June 02, 2020

Lotte Shopping injects W400b to spruce up new outlet

PUBLISHED : December 06, 2018 - 14:55

UPDATED : December 06, 2018 - 16:09

  • 본문폰트 작게
  • 본문폰트 크게
  • 페이스북
  • 트위터
  • sms

[THE INVESTOR] Lotte Shopping announced on Dec. 5 that it has injected 400 billion won (US$357.43) to spruce up its new premium outlet in Giheung, Gyeonggi Province, which is set to open on Dec. 6.

“We project that the new outlet will reach break-even point after a year. We are also hoping to recover our investment in four years,” a Lotte Shopping official said in a statement.

Since the outlet’s location is far from the Seoul metropolitan area, the company expects around 8,000 customers during weekdays and more than 45,000 during the weekends.

Lotte Shopping also noted that it saw high potential in investing in the new outlet as it expects the size of the market to grow further over the next two to three years, amounting to around 20 trillion won.

The Giheung outlet, which spans around 150,000 square meters, has more than 300 different brand stores selling various products, including outdoor wears and home appliances. In addition, the company has spent around 2.8 billion won to include areas for culture experiences.

Lotte Shopping currently has five premium outlets in Korea, and received a permit to establish the new store in January last year.

By Song Seung-hyun (

  • 페이스북
  • 트위터
  • sms
Herald Corporation|CEO : Kwon Chung Won
Publisher. Editor : Kwon Chung Won
Chief Privacy Officer & Juvenile Protection Manager : Yang Sung-jin
Title : The Investor|Date of registration : 2015.04.28
Company Registration No. 104-81-06004
Mail-Order Business Registration 2016 - Seoul Yongsan - 00590
Huam-ro 4-gil 10, Yongsan-gu, Seoul, Korea
T : +82-2-727-0114|Business info
Gov’t registration No. Seoul 아04099