Lotte Mart opens 100th overseas outlet

Lotte Mart Co., South Korea's third-largest discount store chain, said Thursday it has opened its 100th overseas outlet in Indonesia.

In 2006, Lotte Mart opened its first overseas outlet in Vietnam. In 2007, Lotte Mart also ventured into China by acquiring eight Chinese stores from SHV. 

In 2008, Lotte Mart acquired a 75 percent stake in discount retailer PT Makro Indonesia, which operates 19 stores in Indonesia, one of Southeast Asia's largest economies.

The discount store chain, a unit of South Korea's Lotte Group, currently operates 78 discount outlets in China, 19 in Indonesia and two in Vietnam. In South Korea, Lotte Mart operates 85 outlets.

Lotte Mart targets to increase its discount outlets to 200 both at home and abroad and to post a combined sales of 9 trillion won ($7.72 billion) this year.