President Nguyen Xuan Phuc receives Chairman of Lotte Group Shin Dong-bin. Photo: Thong Nhat/VNA

President Phuc on Wednesday received Chairman of Lotte Group Shin Dong-bin, who is on a working visit to Vietnam. He said that Lotte Group, the fifth largest corporation in Korea, has made an important contribution to promoting economic and trade cooperation, a pillar in the relationship between the two countries. He said he hopes Lotte will continue to boost economic cooperation between the two countries to soon bring bilateral turnover to 100 billion USD to benefit to both Lotte and Vietnam.

The President also suggested that Lotte focus on vocational training and ensure the welfare of workers, especially in Lotte's supermarket chains and retail stores in Vietnam, actively participate in and sponsor the 30th anniversary of the diplomatic relations between Vietnam and the Republic of Korea.

Mr. Shin said that the Group is planning to invest in a number of projects in Hanoi, where it wants to build a shopping center to attract 10 million visitors a year. Lotte also pushes the building of a startup ecosystem to support Vietnamese youth and  invests in start-ups in Vietnam.