The Republic of Korea (RoK)’s supermarket chain Lotte Mart Vietnam recently met with more than 100 suppliers in Khanh Hoa province to discuss buying their products.

The conference on supply-demand connectivity organised by Lotte and the province’s Department of Industry and Trade and Farmers Association sought to support local businesses, cooperatives and production and trading establishments by getting their products into the modern retail channel.

The supermarket spelled out its procurement policies and processes and listened to suggestions from the suppliers to come up with policies.

The signing ceremony. Source: Lotte Mart

Tran Van Chuc, director of the supermarket's fresh food purchasing division, said Lotte Mart gives priority to buying locally made products that meet quality standards and regional and traditional products that meets customers' various needs.

Yoon Byung Soo, product strategy director at the supermarket, said with its target of opening 60 stores nationwide by 2020 and vision to become a leading retailer, Lotte Mart would continue to connect with and support Vietnamese companies, especially in provinces.

It would also offer preferential treatment to producers who want to cooperate with it in developing its own brands, he said.

Lotte Mart also signed memorandums of understanding with many suppliers in Khanh Hoa to bring their products into the Lotte Mart distribution network.

Lotte Mart Nha Trang is set to be opened on July 28.

Source: VNA