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Naver's AI to empower Lotte shopping platforms
Kim Sang-hyun, right, vice chairman and CEO of Lotte Group’s retail division, shakes hand with Naver CEO Choi Soo-yeon after signing a partnership to improve Lotte's retail businesses, at the latter's headquarters in Seongnam, Gyeonggi Province, Friday. Courtesy of Lotte Group
By Ko Dong-hwan
Lotte Group's retail division has partnered with internet giant Naver to empower Lotte's online and offline shopping businesses with artificial intelligence (AI), the former said Sunday.
Kim Sang-hyun, Lotte retail division vice chairman and CEO, and Naver CEO Choi Soo-yeon agreed to a partnership on AI transformation during a roundtable event at Naver’s headquarters in Seongnam, Gyeonggi Province, Friday.
Under the partnership, Lotte's retail division will introduce a new AI-powered operating system to manage offline stores. In doing so, the two sides will cooperate to develop agentic AI systems each tailored for Lotte's shopping, merchandise, operation and management support.
The collaboration is targeted at improving Lotte’s shopping experiences at its 15,000 offline stores worldwide, including Lotte Mart, Hi-Mart, department stores, supermarkets and convenience stores. Naver’s e-commerce services will support those shopping platforms by offering reward point promotions and Naver’s fast delivery service.
The partnership allows Lotte to use Naver’s AI advertisement solution, NCLUE, to more effectively analyze its consumer market. The collaboration also targeted environmental, social and governance principles as well, hitching outstanding sellers on e-commerce platforms under Naver to Lotte offline stores to broaden their markets here.
Kim said he expects a “synergy between the country's largest offline shopping infrastructures under Lotte and Naver’s innovative capabilities in digital and AI.”
“Lotte will become the country’s No. 1 shopping destination by achieving sustainable growth beyond offline to online,” Kim said.
Choi said that with the partnership, "Team Naver" will demonstrate new innovation in AI shopping by using synergy between the two companies’ e-commerce infrastructures.
“We will keep leading AI transformation, or AX, by binding together Team Naver’s technological competitiveness in AI, cloud and digital twin with more strategic partnerships,” Choi said.