April 26, 2024

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[THE INVESTOR] Lotte Group’s food and dining division Lotteria said on July 3 that it has changed the official company name to Lotte GRS -- standing for Lotte Global Restaurant Service -- as a step toward expanding its presence in the global market. The new name was approved by the board during a shareholders meeting on June 30. 

“Lotteria has grown steadily as an expert in the food service for 38 years since opening its first restaurant in 1979. In addition to the domestic market, the company is seeking to actively expand its market overseas and establish a dining service that represents Korea,” said a Lotteria official. 

Since its inception in 1979, the food affiliate of South Korea‘s retail giant Lotte has some 2,500 stores under seven brands nationwide, including the hamburger chain Lotteria and the cafe Angel-in-us Coffee. It also runs 290 stores in seven countries abroad.

By Alex Lee and newswires (alexlee@heraldcorp.com)