South Korea's Lotte opens Hanoi mall in Vietnam investment drive

Conglomerate turns focus to Southeast Asia nation after China debacle

20230922 Lotte Hanoi

South Korea's Lotte has opened its new mall complex at West Lake Hanoi, offering retail, cinema and an aquarium. (Photo by Yuji Nitta)

YUJI NITTA, Nikkei staff writer

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.

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