South Korea’s Lotte Group to create 70,000 jobs in five years
Lotte Group plans to expand further in Seoul and abroad, creating 70,000 new jobs.
The South Korean conglomerate is known for its popular confectionery items such as Koala’s March and Pepero, also owns businesses in the finance, housing, and chemicals sector. It currently employs some 60,000 people across more than 90 business units.
The firm will be investing 50 trillion won (SG$61 billion) in all business sectors at home and abroad over the next five years.
The five-year plan will kick off next year with an investment of about SG$14 billion – its biggest ever since it spent SG$13.6 billion in 2016 to buy out a local petrochemical company.
In the distribution sector, the group plans to go all-in on digital transformation, particularly ramping up with emerging technologies such as artificial intelligence and big data.