High Growth Potential for Food & Beverage Business
Lotte Corp. vice chairman Hwang Kag-gyu visited the firm’s local subsidiaries in Pakistan from May 8 to 12.
Pakistan is a large market with a 200 million population, which is the sixth largest in the world. Those who are under the age of 14 years account for 30 percent of the total population so the country has a high growth potential for the food and beverage business.
Lotte Corp entered the Pakistani market for the first time in 2009 after acquiring Lotte Chemical Pakistan Ltd. and it also acquired Pakistani confectionery firm Kolson in 2011 and Pakistani beverage firm Akhtar Beverage in 2018, according to Lotte Corp. on May 12.
The company posted 700 billion won (US$595.74 million) in sales from a total of nine local subsidiaries as of last year.