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Lotte Builds Indonesia Malls in Demographic Play: Southeast Asia

Lotte Shopping Co., South Korea’s largest department store operator, plans to open four shopping malls in Indonesia by 2018 to tap growing consumer spending in a nation where half the population is younger than 30.

PT Lotte Shopping Avenue Indonesia will build two in Jakarta in the next three years, with the others in the country’s second-biggest city, Surabaya, and in Medan on Sumatra island, President Director Suh Chang Suk said in an interview in the capital on June 6. There is a lot more potential for malls in the world’s fourth-largest population, Suk said.