Lotte Mart

On April 1, 1998, Shin Kyuk-ho opened the first Lotte Mart in Guui-dong, Gangbyeon, Seoul with a clear mission to become the region's top grocery market. This launch marked the beginning of a massive retail network that now spans South Korea and extends into Vietnam. The company operates as a hypermarket chain offering everything from fresh produce and clothing to electronics and toys under one roof.

Innovation drives the current strategy for this subsidiary of the Lotte Group conglomerate. The retailer recently unveiled a $142 million automated fulfillment center in Busan, becoming the first South Korean store to deploy Ocado robotics technology. This move aims to modernize logistics and compete directly with e-commerce giants while maintaining its physical presence.

Recent financial plans show a commitment to aggressive growth and efficiency. In August 2026, the company announced a 950 billion won investment to build automated logistics centers and acquire 101 electric refrigerated trucks. They also launched a premium private-label wine line to differentiate their offerings against rivals like Homeplus. Expansion continues with new branches in Vietnam and potential future locations in the United States. [edit]