Lotte to develop fintech in Vietnam after aquiring TechcomFinance
By Tu Anh
September 08, 2018 | 07:45 AM GMT+7
Lotte Card is going to focus on developing non-cash consumer finance and applying financial technology, commonly known as fintech or findata in Vietnam.
Lotte Card's purchase of TechcomFinance in March 2018 will set the base for its development in Vietnam.
On the afternoon of September 6th, Deputy Prime Minister Vuong Dinh Hue received Chairman and CEO Kim Chang Kwon of Lotte Card Co., Ltd. (operating under Lotte Korea).
Among giant Korean investors in Vietnam, Lotte has the largest number of active affiliates, and it still continues to expand investment activities.
Kim said that in Vietnam, Lotte Card had about 1.5 million consumers in supermarkets and shopping centres. He considered the completed purchase of TechcomFinance from Techcombank in March 2018 to be an important foundation for the future growth of Lotte Card.
Deputy Prime Minister met up with Lotte Card's Chairman and CEO on September 6th
Deputy Prime Minister assigned the State Bank to amend the license of TechcomFinance Company, which now belongs to Lotte Card. Any issues that arise should be reported to the Prime Minister for decision.
Vietnam aims to create favourable conditions for effective operation of Lotte Card so that it can contribute to the development of Vietnam’s economy.
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