South Korea’s Lotte to take part in projects in Almaty and Alatau City

South Korea’s Lotte Group is set to build Almaty’s first hotel under the Lotte brand and take part in the development of Alatau City. The company will also continue operating in Kazakhstan’s food and logistics sectors. President Kassym-Jomart Tokayev and Lotte Group Chairman Shin Dong-bin discussed the projects, the Akorda press service reported.

Tokayev said that Lotte remains one of Kazakhstan’s long-standing partners and contributes to the development of economic cooperation between the two countries.

The president also highlighted the company’s work in the food industry. Lotte is developing the Rakhat confectionery brand and modernizing production facilities in Almaty and Shymkent.

The meeting also covered the development of transport and logistics infrastructure. Lotte Global Logistics is considering expanding into international and regional markets.

Following the meeting, Hotel Lotte Co. Ltd. and Sensata Invest exchanged memorandums of understanding on constructing Lotte hotels in Almaty and Alatau City.

Shin also spoke about Lotte’s participation in Alatau City development projects, including the construction of the Iconic Complex.