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Lotte Groups beefs up food R&D power through new center
Collected
2017.06.02
Distributed
2017.06.05
Source
Go Direct
Korea’s food and retail conglomerate Lotte Group has reinforced its food research and development power by opening a new center in Seoul at a cost of $200 million.

Lotte R&D Center, located in the Magok Industrial Complex of western Seoul, opened Thursday as part of the group’s ambitious project timed with the 34th anniversary of its founding. It will be responsible for coming up with a new pipeline for its food labels and ensuring food safety and hygiene in storage and distribution.

The eight-story building covering a floor space of 82,929 square meters is five times bigger than the existing R&D site in Yangpyeong. Research staff will also be beefed up to 430 from 300.

Lotte R&D Center will work with food producers Lotte Confectionary, Lotte Chilsung, Lotte Foods and Lotteria on new products. It will seek out ways to enhance safety and efficiency for distributors Lotte Department Store, Lotte Mart, Lotte Super and 7-Eleven.

It will conduct separate health and food studies for an aging society and team up with public and other private think tanks for independent projects. The center will link up with other Asian counterparts to globalize Korean menus.

By Sohn Il-seon

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]