Lotte Corporation Implements AI Strategies for Enhanced Competitiveness and New Facilities
Lotte Corporation is undergoing a structural overhaul to boost competitiveness using AI. Lotte Chemical is investing 30 billion won in a new factory in Yeosu, South Korea, to produce highly functional materials. The facility will be the largest in Korea, with a capacity of 500,000 tons per year. Lotte Innovate is developing a Robot as a Service model and launched AX Lab 3.0, a convenience store with humanoid robots. The company aims to transform its operations and markets by 2027.
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Lotte Corporation is restructuring to enhance competitiveness through AI integration. In petrochemicals, it will downsize commodity sectors and expand high functional materials. Lotte Chemical is investing 30 billion won to construct a 500,000-ton per year facility in Yeosu, South Korea, set to be the largest compound production plant in the country.
The factory will utilize AI for automation and quality testing, resulting in a 50% productivity increase. Lotte Innovate is developing a Robot as a Service model and has introduced AX Lab 3.0, a convenience store featuring humanoid robots and AI for customer engagement. The company aims for significant operational shifts by 2027.
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