On the 27th, Lotte announced that it is strengthening its competitiveness in the global market and leading innovative management based on artificial intelligence (AI) technology. Through data analysis and automation technologies utilizing AI, the company is maximizing the efficiency of its existing businesses while introducing new business models to secure future growth drivers. Expanding overseas operations is also a major management challenge. The company is diversifying its portfolio in new business areas such as bio and the metaverse.
Lotte Innovate introduced 'I-Member 2.0', an enhanced version of the Lotte Group's in-house AI platform 'I-Member', which was unveiled earlier this year, in August. The user interface (UI) and user experience (UX) have been revamped, and the menu has been restructured around functionality.
Lotte's distribution sector is applying AI in various ways. Lotte Department Store introduced an 'AI interpretation service' in April at its Jamsil location, providing real-time interpretation in 13 languages, including English, for foreign tourists. Lotte Mart and supermarkets are launching various products based on the 'AI sorting system' that helps enhance the quality control of fruits. Lotte Home Shopping has launched the AI chatbot 'Velligunggeumi' to address employee inquiries about company life and assist in work convenience.
Lotte's food sector is exploring entry into Africa, which is emerging as a sustainable growth and blue ocean market. In October, the company conducted the 'Sustainable Kakao Bean Project' in Ghana, Africa. This initiative aims to improve the farming environment for the sustainable procurement of cocoa, the raw material for chocolate. Lotte's food sector delivered 130,000 cocoa seedlings to the Ghana Cocoa Board, a government agency.
Lotte's food sector is seeking growth through active overseas expansion. Recently, discussions were held with Lotte Co., Ltd. of Japan to position Pepero as a strategic product and to nurture it into a global mega brand with sales of 1 trillion won.
Lotte GRS is expanding its stage to the global market. In October last year, it established the 'LOTTEGRS USA' corporation in Delaware, marking its second overseas base after Vietnam. The goal is to open the first Lotteria branch in the U.S. next year.
Lotte's distribution sector focuses on expanding its global customer base by continuing to capitalize on growth in the Southeast Asian market. Lotte Mall Westlake Hanoi, which opened in September last year, achieved cumulative sales of 200 billion won in just five months and had 10 million visitors within a year of opening. Additional shopping mall openings are also under consideration. Lotte Mart Indonesia recorded sales of 1.09 trillion won last year, showing consistent annual growth.
Lotte Biologics held a groundbreaking ceremony for its Bio Campus Plant No. 1 in Songdo International City, Incheon, in July. By 2030, the company plans to establish three mega plants in Songdo, with a total production capacity of 360,000 liters of antibody pharmaceuticals.
Lotte Innovate and its subsidiary EVSYS officially entered the North American electric vehicle charging infrastructure market by establishing 'EVSYS America' in May. Additionally, EVSYS completed the construction of a smart factory in Cheongju equipped with automated facilities in February. The plan is to gradually expand electric vehicle charging infrastructure in urban-adjacent areas across various business sectors such as retail, hotel, and services.
Lotte Innovate is also engaged in the metaverse business through its subsidiary Caliverse. Opened in August, Caliverse is a metaverse platform that integrates shopping, entertainment, and community with hyper-realistic visuals and unique interactive technology.
In November, a large-scale update was conducted just over two months after the opening. The newly added Tomorrow Planet is a flagship content born from an exclusive partnership with Tomorrowland, the world's largest EDM festival. Updates will continue in the future.