South Korea’s Lotte Group will invest 37 trillion won ($29 billion) over the next five years in health and wellness, mobility, sustainability and new life platform businesses while enhancing its competitiveness in retail, logistics and food sectors to lead innovation and provide differentiated customer experience, the conglomerate said Wednesday (Dec 27, 2023).
Lotte Healthcare, which entered the digital healthcare market in September with the launch of a personalised healthcare platform named CAZZLE, seeks to attract 1 million users to the platform by the end of next year.
Lotte Biologics also aims to be among the global top 10 contract development & manufacturing organisations by 2030 through the construction of three mega-size plants in Incheon.
In the mobility sector, Lotte Data Communication is running self-driving shuttles without driver’s seats in Hongseong County, South Chungcheong Province, based on its previous experience of running such shuttles in other Korean cities.
Regarding the conglomerate’s conventional businesses, Lotte Shopping started building an autonomous logistics centre in Busan earlier this month to improve product management with data and artificial intelligence.
Lotte Global Logistics signed a memorandum of understanding with China’s CoEvolution in September to automate its warehouses. The Korean firm signed another agreement last month with Team Fresh, the nation’s leading cold chain platform, to enhance its competitiveness in delivery service.
Lotte GRS decided to introduce cooking robots named Alpha Grill to Lotteria restaurants in January, to cope with the shortage of workers to cook hamburger patties.
Lotte R&D Centre announced the result of its study on food upcycling earlier this month at a local symposium.
Food upcycling means reprocessing unmarketable foods and byproducts into new products. During a symposium hosted by the Society of Cosmetic Scientists of Korea last month, the centre announced that it proved the cosmetic effects of five types of byproducts, such as cacao shells and coffee waste. – The Korea Times
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