The meeting formed part of the President's activiites during his trip for the 32nd APEC Economic Leaders’ Week and bilateral engagements in the Republic of Korea (RoK).
Delighted at the growing Viet Nam - RoK relations, particularly since the two countries elevated ties to a Comprehensive Strategic Partnership nearly three years ago, President Cuong commended Lotte’s investments and operations in Viet Nam, calling the conglomerate one of the country’s most successful foreign investors, especially in real estate, entertainment, and food processing.
He suggested Lotte Group continue expanding its investment and treat Viet Nam as a strategic market, leveraging opportunities from the country’s next-generation free trade agreements (FTAs).
While pursuing projects in Viet Nam, Lotte should pay close attention to environmental protection, strengthen ties with domestic firms and prioritise the use of local materials, he said, calling on the group to ensure employee welfare and integrate Vietnamese companies into its value chain.
Shin, for his part, thanked the Vietnamese Government for its continued support of Lotte’s operations.
He noted that Lotte was among the first Korean conglomerates to enter Viet Nam, operating in trade, services, food, retail, and real estate. In the country, it has built a network of modern shopping complexes and large-scale projects, including the Lotte Mall West Lake in Ha Noi.
The executive outlined Lotte’s global expansion strategy, with a plan to invest more than 23 trillion KDR (16.2 billion USD) worldwide. Viet Nam remains a key market, and the company will broaden and diversify investments while upholding corporate social responsibility (CSR) and contributing to sustainable local development in the country, he added.
Sharing Shin’s views, the Vietnamese leader affirmed that Viet Nam highly values Lotte’s CSR activities and encourages the group to share its CSR experience to inspire broader business community engagement in Viet Nam.
Regarding Lotte’s proposals, he vowed to direct relevant ministries and agencies to work with the group to address existing issues and ensure stable, long-term operations benefiting both sides.
