April 26, 2024
Retail & Consumer
Lotte opens new food R&D center
[THE INVESTOR] Lotte Group said on June 1, that it will unveil its new food research and development center in eastern Seoul.
The conglomerate is due to hold a dedication ceremony for the new eight-story building set up on 83,000 square meters, later in the day. It has injected a total of 224.7 billion won (US$200.50 million) in the R&D center.
Some 300 top executives, including Lotte Group Chairman Shin Dong-bin will attend the ceremony, it added.
The new R&D center will bring synergy for the food and retail conglomerate as it plans to focus on developing key technologies that it hopes will serve to enhance its competitiveness in the food and bio businesses in the future, Lotte said.
By Alex Lee and newswires (alexlee@heraldcorp.com)
The conglomerate is due to hold a dedication ceremony for the new eight-story building set up on 83,000 square meters, later in the day. It has injected a total of 224.7 billion won (US$200.50 million) in the R&D center.
Some 300 top executives, including Lotte Group Chairman Shin Dong-bin will attend the ceremony, it added.
The new R&D center will bring synergy for the food and retail conglomerate as it plans to focus on developing key technologies that it hopes will serve to enhance its competitiveness in the food and bio businesses in the future, Lotte said.
By Alex Lee and newswires (alexlee@heraldcorp.com)
![[KH Explains] Korean shipbuilding stocks rally: Real growth or bubble?](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=151&simg=/content/image/2024/04/25/20240425050656_0.jpg)
![[Hello India] Hyundai Motor vows to boost 'clean mobility' in India](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=151&simg=/content/image/2024/04/25/20240425050672_0.jpg)
