[Edaily Reporter KYUNG GYEYOUNG ] Lotte Department Store’s Yeongdeungpo branch will be able to operate for at least another 10 years after winning the operating rights for Seoul’s Yeongdeungpo Station once again.
According to LOTTE SHOPPING CO., LTD.(023530)on the 1st, LOTTE SHOPPING CO., LTD. was ultimately selected as the new operator in the bidding process for the use permit of Yeongdeungpo Station, conducted by the Korea National Railway.
Lotte Department Store will continue to operate the Lotte Department Store Yeongdeungpo Branch after completing the procedures for the new contract. The contract term is 10 years from the date the new contract is signed.
Opened in 1991, the Lotte Department Store Yeongdeungpo branch is Korea’s first privately funded department store located in a railway station, having operated under a lease granted by the Korea National Railroad Corporation in 1988. It is also the third Lotte Department Store to open, following the Main Store and the Jamsil branch.
Lotte Department Store plans to enhance the competitiveness of the Yeongdeungpo branch through differentiated merchandise planning (MD) and other initiatives, striving to make it the leading department store in Seoul’s western commercial district.
Exterior of the Lotte Department Store Yeongdeungpo Branch in Yeongdeungpo-gu, Seoul. (Photo courtesy of Lotte Department Store)
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