Lotte Sets up Town in Vietnam with Opening of Mall in West Lake Hanoi

Lotte Shopping has soft opened a mega commercial complex in Hanoi, Vietnam, marking its takeoff to become Asia’s No. 1 shopping center. The move marks a major exit from China and a relocation to Vietnam for Lotte Group’s overseas bases following China’s retaliation against Korean companies, including Lotte, on the deployment of the Terminal High Altitude Area Defense (THAAD) system in South Korea.

Lotte Shopping announced on July 27 that it will expand its Asian market with the pre-opening of Lotte Mall West Lake in Hanoi, Vietnam on July 28. The mall’s official opening is scheduled for Sept. 22.

Lotte Mall West Lake is a Vietnamese version of Lotte Town featuring a shopping mall, a supermarket, a hotel, an aquarium, a movie theater, and other major Lotte affiliates, and will be located in the West Lake New Urban Area at the heart of Hanoi. The complex has a gross floor area of about 354,000 square meters, which is the size of 50 soccer fields combined. The entire Lotte Group concentrated on the project, which is said to be a mega-base for Lotte affiliates including those in the retail, tourism, leisure, and construction industries.

“We will make Lotte Mall West Lake Hanoi the first landmark that Vietnamese people and tourists think of when they think of Vietnam,” said Kim Sang-hyun, vice chairman of Lotte’s retail business division. “With Lotte Mall West Lake Hanoi, Lotte Shopping will jump from being the No. 1 shopping place in Korea to the No. 1 shopping center in Asia.”