Lotte to open 4 malls in Indonesia

JAKARTA: Lotte Shopping Co, South Korea’s largest department store operator, plans to open four shopping malls in Indonesia by 2018 to tap growing consumer spending in a nation where half the population is younger than 30. PT Lotte Shopping Avenue Indonesia will build two here in the next three years, with the others in the country’s second-biggest city, Surabaya, and in Medan on Sumatra, said its president director Suh Chang Suk. There is a lot more potential for malls in the world’s fourth-largest population, Suk said. Bloomberg