SOUTH KOREA. Lotte Duty Free has signed an MOU with Busan Metropolitan City to support struggling small business owners and revitalise the local economy.
Key officials from both organisations took part in the signing ceremony. The agreement offers systematic and comprehensive support for strengthening the self-sufficiency and competitiveness of small business owners in Busan. It was led by Busan Metropolitan City Vice Mayor for Economic Affairs Lee Seong-Kweun and Lotte Duty Free Head of Marketing Division Roh Jae-seung.
Under the agreement, Lotte Duty Free will roll out the third edition of its Cheerups project, a Corporate Social Responsibility initiative introduced in 2021 which aims to assist owners of small restaurant businesses.
Since its launch, 102 restaurants in key South Korean tourist destinations, such as Myeong-dong in Seoul and Incheon, have benefited from this project. Lotte Duty Free has also helped them revitalise their outlets by replacing outdated facilities and furnishings.
Through its partnership with the Busan Metropolitan City and the Busan Economic Promotion Agency, the retailer has selected 15 small businesses that have been operating for more than ten years.
Lotte Duty Free will offer customised consultation to help restaurateurs enhance their offers and services. It will also provide them with digital multilingual menu boards to help communicate with foreign customers.
The Cheerups project will run for three months starting on 17 July.
In addition, beneficiaries will be provided with marketing assistance covering areas such as content and video through online and offline channels including Naver.
Participants will receive support from a team of 15 local university students, who are known as ‘Cheerloves’. They will assist with marketing activities such as social media content.
Lotte Duty Free Head of Marketing Division Roh Jae-seung said: “I hope this Cheerups project will help an increase in tourists visiting Busan, which can be passed on to local small businesses.”
As part of the company’s CSR efforts, various community initiatives have been carried out under the slogan “LDF Impact” since 2020. These are centered on the three themes of local community coexistence, the environment, and women.
Another key Lotte Duty Free CSR project is the LDF Starups programme, a social contribution project that aims to foster young entrepreneurs. ✈
