Lotte Department Store's Yeongdeungpo branch [Lotte Department Store website]
Lotte Department Store's Yeongdeungpo branch [Lotte Department Store website]

Lotte Department Store's Yeongdeungpo branch has secured operating rights to the station building, allowing it to continue running for another 10 years.

Lotte Shopping said Wednesday it had been selected as the new permit holder in Korea National Railway's bidding process for use of the Yeongdeungpo Station building.

Lotte Department Store will now proceed with a new contract under which it will continue operating the Yeongdeungpo branch. The contract runs for 10 years from the date the new agreement is signed.

"With a stable operating period of at least 10 years secured, Lotte Department Store will work to strengthen the competitiveness of the Yeongdeungpo branch — through differentiated merchandising and other initiatives — to become the leading department store in western Seoul," Lotte Shopping said.

The Yeongdeungpo branch opened in 1991 and has operated as a privately funded station-building department store, with Lotte Shopping holding a use permit for the privately developed station complex at Yeongdeungpo Station.


spa@heraldcorp.com