Lotte Mart, the wholly-owned supermarket subsidiary of the Korean Lotte Group, has signed a contract with Tianjin Beichen Construction and Development Company to jointly build a hypermarket in Beichen, Tianjin.
Under the contract, the two sides will jointly invest CNY400 million to build a 30,000 square meter hypermarket with the brand name of Lotte Mart, so as to upgrade the overall business and retail environment of Beichen district.
As one of the world's top 500 enterprises, Lotte Group is a comprehensive group that has 52 subsidiaries and annual sales of about USD40 billion. It entered the Chinese market in 1994.
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