Lotte: A Leading Food Conglomerate in Vietnam

According to the 2024 annual report of the South Korean chaebol, Lotte, Lotteria Vietnam, a subsidiary of Lotte GRS, is in charge of the conglomerate’s food business.

Lotteria Vietnam, also the largest fried chicken chain in the country, recorded a net income of -6.903 million won in 2024 and -5.616 million won in 2023, equivalent to a loss of 106.7 billion VND and 86.8 billion VND, respectively.

In 2022, as Vietnam moved past the peak of the Covid-19 pandemic and reopened its borders, Lotteria Vietnam recorded a net income of 2.292 million won, equivalent to a profit of 35.4 billion VND.

This result contradicts Vietdata’s earlier report that Lotteria suffered a loss of 14 billion VND in 2022.

Lotteria entered the Vietnamese market in 1998 and has since grown into a leading international enterprise in the country’s food industry. With nearly 250 restaurants across 52 provinces and cities, Lotteria is the largest restaurant chain in Vietnam.

To support its extensive chain, Lotte has invested in two factories in Long An and Binh Duong, operated by Lotte F&G Vietnam, to supply ingredients and food products.

Lotte, established in 1967, is South Korea’s fifth-largest multinational conglomerate, with a presence in over 30 countries across Asia, Europe, and the United States. In 2022, the company achieved a revenue of 62.9 billion USD.

Lotte began its investment journey in Vietnam in 1996, and by 2018, its revenue in the country reached 6.7 billion USD. The chaebol has invested nearly 5 billion USD in Vietnam and considers it the third-largest market after South Korea and Japan.