Lotte chief bets on K-food boom for global expansion

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The story "Lotte chief bets on K-food boom for global expansion" was covered 2 hours ago by Korea Economic Daily, a news publisher based in South Korea.

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Lotte chief bets on K-food boom for global expansion - Korea Economic Daily

Quick Summary:

Lotte is famous for its chocolate bar called Ghana Chocolate, which first hit the shelves in Japan in 1964.After selling 6.6 billion chocolate bars worth about 1.3 trillion won ($966 million) until last year since its rollout in Korea in 1975, it is the most popular chocolate bar in Korea, selling about 60 billion won annually.

At the meeting, Shin urged executives to go all-out to beef up Lotte Wellfood’s popular chocolate-covered thin stick snack Pepero’s global sales to 1 trillion won from the current 200 billion won to make Pepero as one of the global top 10 food and beverage brands.

FOOD AS A PILLAR GROWTH ENGINE Shin’s visit to Ghana is also part of the company’s efforts to foster the growth of Lotte Group’s food business to offset the poor performance of its other mainstay chemical and retail businesses.