HANOI -- South Korea's Lotte opened a large retail complex in Hanoi on Friday following an investment of $643 million, in a strategic pivot to focus on Vietnam after deciding to withdraw from the Chinese market.
Lotte is also constructing a shopping complex in Ho Chi Minh City in the south, competing with Japan's Aeon Mall and other local companies to attract Vietnamese consumers. The South Korean conglomerate hopes to make Vietnam a source of growth, following its path at home and in Japan.
