On the 8th, Lotte Mart announced that it has opened the 'Global Bridge in Indonesia' in Jakarta, the capital of Indonesia.
The Global Bridge in Indonesia is an event organized by Lotte Mart to support domestic small and medium-sized enterprises in their overseas market development. After hosting the '2024 Korea Together Festival with Lotte' in Hanoi, Vietnam, last year in collaboration with the Ministry of Small and Medium Enterprises and Startups, Lotte Mart collaborated with the Foundation for Agricultural Cooperation between Large and Small Corporations this year in Jakarta.
According to Lotte Mart, the export consultation meeting held on the 4th had participation from 20 excellent domestic small and medium-sized corporations in the food and beauty sectors and 24 Indonesian buyers, resulting in over 130 consultations worth approximately $9.5 million (about 130 billion won). External corporations confirmed new store openings with Lotte Mart's Indonesian subsidiary and signed a memorandum of understanding (MOU) with local buyers for export-related businesses.
Lotte Mart also conducted programs including a strategy seminar with Indonesian online platform corporations, market research of local hypermarkets, and visits to halal certification agencies (LPPOM). Additionally, a 'Lotte Mart Play Market' pop-up store was operated at the Galleria City Mall in Jakarta from the 4th until now.
Currently, Lotte Mart operates a total of 63 stores, including 48 in Indonesia and 15 in Vietnam, since entering Southeast Asia in 2008. More than 500 Lotte Mart private brand (PB) products are also exported to 14 countries, including Vietnam, Mongolia, and Hong Kong, with over 90% being products from domestic small and medium-sized enterprises.
Lotte Mart's overseas sales last year amounted to 1.497 trillion won, and operating profit was 47.8 billion won. In the first quarter of this year, sales reached 468.9 billion won, and operating profit was 21.4 billion won, marking increases of 9.5% and 20.6%, respectively, compared to the same period last year.
Jin Ju-tae, head of the compliance support division at Lotte Mart, said, "Through support for the overseas market development of small and medium-sized enterprises over the past two years, we have achieved significant results worth about 30 billion won in consultations with approximately 100 corporations," adding, "As we operate offline retail stores abroad, we will continuously support the global expansion of domestic small and medium-sized enterprises."