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Lotte makes fresh Vietnam start after China exit and '5 lost years'

$900m shopping center paves way for No. 3 market after South Korea and Japan

Lotte Group Chairman Shin Dong-bin attends a groundbreaking for a commercial complex in Ho Chi Minh on Sept. 2. (Photo courtesy of Lotte)

SEOUL/HO CHI MINH CITY -- It was no coincidence that the groundbreaking of South Korean conglomerate Lotte's $900 million shopping center in Ho Chi Minh City fell on the same day as Vietnam's most important holiday.

After geopolitical setbacks that forced the company out of China, Lotte Chairman Shin Dong-bin himself was in attendance at Friday's ceremony, underscoring the importance of Vietnam in the company's future growth strategy.

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