Lotte Shopping records Q1 revenue of $77.5 mln in Vietnam
Lotte Shopping, a distribution unit under South Korean conglomerate Lotte, recorded a revenue of KRW98 billion ($77.5 million) from its operations in Vietnam in the first quarter of this year.
Lotte Shopping now operates in six sectors at home, namely department stores, hypermarkets & supermarkets, e-commerce, home shopping, culturework (cinema), and hi-mart (electronics). For its overseas markets, the South Korean firm runs department stores and hypermarkets in China, Indonesia, and Vietnam.

The under-construction Lotte Mall West Lake Hanoi in the capital city, northern Vietnam. Photo by The Investor/Trong Hieu.
In Vietnam, the firm posted a revenue of KRW5 billion ($3.96 million) from the department store segment, up 8.4% year-on-year. The figure accounted for 0.7% of Lotte Shopping’s total revenue from the segment of KRW796 billion ($629.8 million). Operating profit fell 24.4% to KRW1 billion ($791,200) and accounted for 19% of the total.
As revenue grew but operating profit fell, Lotte Shopping attributed the development to increased rental fees in Vietnam.
In the hypermarket sector, Lotte Shopping’s revenue in Vietnam rose 12.6% year-on-year to KRW93 billion ($73.6 million), making up 6.5% of the firm’s total figure of KRW1,447 billion ($1.14 billion). The operating profit in Vietnam jumped 27% to KRW8 billion ($6.33 million), or 8.5% of the total.
Lotte Shopping noted that the number of department stores in Vietnam remained at two as of the end of 2022 and would rise to three in 2023, with an expected opening of one unit in the third quarter of this year. In addition, the number of hypermarkets in Vietnam went up from 14 in 2021 to 15 in 2022, with one more expected in the third quarter of this year.
On its Facebook page, Lotte Mall West Lake Hanoi hinted a soft opening on July 28 and a grand opening on September 22.
Lotte Shopping highlighted the cultureworks (cinema) sector recorded a revenue of KRW4.2 billion ($3.3 million) in Vietnam in 2022, a strong improvement of KRW4.1 billion year-on-year.
Regarding global performance in the first quarter of this year, Lotte Shopping posted an operating profit of KRW112.5 billion ($89 million), up 63.7% year-on-year, on a revenue of KRW3.6 trillion ($2.85 billion), down 5.5%.
Lotte Vietnam Shopping JSC recorded a sales revenue of KRW326,131 million ($258 million) and a profit of KRW7,348 million ($5.8 million) in 2022; Lotte Cinema Vietnam Co. Ltd. posted a sales revenue of KRW39,156 million ($31 million) and a loss of KRW16,298 million ($12.9 million) last year, according to the parent company’s report.
- Read More
Vietnam’s steel giant Hoa Sen spends $34 mln on land near Long Thanh airport for urban development
Hoa Sen Group (HoSE: HSG), Vietnam’s top producer of coated steel products, has spent VND900 billion ($34.3 million) acquiring land for a major urban development project in the southern province of Dong Nai.
Real Estate - Fri, August 8, 2025 | 8:22 am GMT+7
Halal market presents major opportunities for Vietnamese businesses
The global Halal market is projected to reach $5 trillion by 2030, with Malaysia alone expected to hit $113.2 billion, said Shariza binti Abdul Rasheed, Halal product manager at Maybank Malaysia.
Economy - Thu, August 7, 2025 | 9:18 pm GMT+7
Steel major Hoa Phat to pour extra $130 mln into central Vietnam plant
Vietnam’s leading steelmaker, Hoa Phat Group (HoSE: HPG), will increase investment in its Dung Quat 2 iron and steel production complex by VND3.4 trillion ($129.7 million) as part of an expansion plan.
Industries - Thu, August 7, 2025 | 8:03 pm GMT+7
Vietnam’s army-backed construction firm proposes 14 offshore wind power projects
Lung Lo Construction Corporation (LLC), under the Ministry of National Defense, has submitted investment proposals for 14 offshore wind power projects with a combined capacity of 9,000 MW.
Energy - Thu, August 7, 2025 | 5:07 pm GMT+7
Vietnam's agri major Hoang Anh Gia Lai fined for bond information disclosure failure
Vietnam's agri major Hoang Anh Gia Lai JSC has been fined VND92.5 million ($3,528) for failing to disclose bond-related information as required by law.
Companies - Thu, August 7, 2025 | 4:31 pm GMT+7
Northern Vietnam province accelerates $2.2 bln LNG-to-power project
Quang Ninh province will hand over 4.9 hectares of reclaimed land to the Quang Ninh LNG-fuelled power plant project before August 11, local authorities stated at a meeting on Wednesday.
Energy - Thu, August 7, 2025 | 4:17 pm GMT+7
Vietnam's seafood firms ride profit wave ahead of US tariff hike
Vietnam’s seafood companies reported surging profits in Q2/2025, driven by importers ramping up purchases ahead of new U.S. reciprocal tariffs.
Economy - Thu, August 7, 2025 | 2:21 pm GMT+7
Le Anh Tuan appointed new CEO of Dragon Capital Vietfund Management JSC
Dragon Capital Group, Vietnam's largest asset manager, has appointed Le Anh Tuan as CEO of its arm Dragon Capital Vietfund Management Joint Stock Company (DCVFM), starting from October 1, 2025.
Companies - Thu, August 7, 2025 | 2:01 pm GMT+7
Indonesia, Malaysia, Thailand expand local currency transaction network
Bank Indonesia, Bank Negara Malaysia, and Bank of Thailand have added new Appointed Cross Currency Dealer (ACCD) participating banks to broaden services for bilateral transactions in local currencies across the three nations, Bank Indonesia said in a statement on Tuesday.
Southeast Asia - Thu, August 7, 2025 | 12:48 pm GMT+7
ASEAN to sign MoU on regional power grid implementation
ASEAN member states are set to sign an MoU on the implementation of the ASEAN Power Grid during the bloc’s Energy Ministers’ Meeting this October.
Southeast Asia - Thu, August 7, 2025 | 12:43 pm GMT+7
Vietnam overtakes Thailand to become world's second-largest rice exporter
Vietnam has outranked Thailand as the world’s second-largest rice exporter in the first half of 2025, Thai PBS reported on August 3, citing the Thai Rice Exporters Association.
Companies - Thu, August 7, 2025 | 12:41 pm GMT+7
Vietnam posts trade surplus of $10.18 bln in 7 months
Vietnam’s export earnings grew by 14.8% to $262.44 billion in the first seven months of this year, while its import turnover rose by 17.9% to $252.26 billion, resulting in a trade surplus of $10.18 billion.
Economy - Thu, August 7, 2025 | 12:19 pm GMT+7
Malaysia pledges big purchases, investments with US
Malaysia has agreed to buy and invest over $240 billion (MYR1.02 trillion) in the U.S. to help reduce the trade gap between the two countries.
Southeast Asia - Thu, August 7, 2025 | 12:08 pm GMT+7
Vietnam's leading property developer Novaland to issue 152 mln shares to settle $229 mln debt
Novaland, a major real estate developer in Vietnam, plans to issue nearly 152 million new shares to swap more than VND6 trillion ($228.8 million) worth of bond principal.
Companies - Thu, August 7, 2025 | 10:11 am GMT+7
Vietnam's FDI capital disbursement hits five-year record high despite US tariff turmoil
Disbursed foreign direct investment (FDI) capital in Vietnam reached $13.6 billion in Jan-July, up 8.4% year-on-year, despite U.S. tariff concerns.
Economy - Thu, August 7, 2025 | 9:57 am GMT+7
Malaysia steps up efforts to explore nuclear energy potential
Malaysia’s Minister of Science, Technology and Innovation Chang Lih Kang on Wednesday reaffirmed his ministry’s commitment to enhancing cooperation with the Ministry of Energy Transition and Water Transformation (PETRA) in exploring the potential of nuclear energy.
Southeast Asia - Thu, August 7, 2025 | 8:10 am GMT+7