From Burgers to Smart Cities: Lotte Builds a Second Domestic Market in Vietnam

HO CHI MINH CITY — When Lotte Group entered Vietnam in July 1996, it bet on hamburgers.

Lotte Mart, Lotte Culture Works and Lotte Global Logistics entered in 2008, followed by Lotte Hotel in 2013 and Lotte Department Store in 2014.

Lotte brought the full weight of its Vietnamese operations together in 2023 with the opening of Lotte Mall West Lake Hanoi.

The Lotte Eco Smart City Thu Thiem project underway in Ho Chi Minh City is the prime example.

To that end, it employs more than 10,000 local workers in Vietnam, established Lotte Ventures Vietnam in 2021 and launched L-Camp Vietnam, a local startup incubation program, in May this year.