Lotte embraces English to prepare for its intended overseas expansion and catering to a growing number of foreign customers.

April 7, 2014 Leave a comment

Posted : 2014-03-23 17:24

Updated : 2014-03-23 20:01

Lotte embraces English

By Park Ji-won
Lotte Department Store is conducting its first English proficiency contest for teams of executives this month, the retailer said Sunday.
The move reflects its desire to globalize, by training its staff to prepare for its intended overseas expansion and catering to a growing number of foreign customers.
“We need more talented employees to boost overseas business expansion,” said Park Wan-soo, a company official.
“We also plan to give more benefits in the recruitment process to employee candidates with good foreign language ability,” Park added.
The executives are obliged to turn in the score sheet of OPIc, or Oral Proficiency Interview, an English speaking test by American Council on the Teaching of Foreign Languages (ACTFL).
The test is broadly adopted in Korean companies to measure the English abilities. The winners will receive 11 million won ($10,185) in prize money.
Besides, since last year turning in OPIc score gives employees additional credits for promotion.
The department store also has been financially supporting employees who want to learn foreign languages in private language institutions since 2010.
Lotte is finding talented employees overseas for overseas business.
It recently surveyed some 1,000 employees for overseas positions.
It is also trying to hire Korean students in Shanghai and China.
Lotte Shopping CEO Shin heon is pushing for its rapid globalization.
It posted 8,623 billion won in sales in 2013, down 0.5 percent from a year ago, according to the firm’s data.
Its operating profit fell to 709 billion won in 2013, down 5.1 percent from a year ago.
The firm is operating six department stores overseas; four in China, one in Indonesia and Russia. Its Russian branch was opened in 2007 as Lotte Department Store’s first overseas branch.

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