South Korean conglomerate Lotte Group is planning an ambitious expansion in Russia, vowing to invest up to $1 billion over the next three years.

      In 2017, it is set to launch Lotte Hotel in St Petersburg, an investment worth $140 million, and two more sites in Central Russia.

      The company says it wants to explore new opportunities that emerge during the ongoing crisis.

      LOTTE RUS was established in 1997 to represent the interests of a leading Japanese-Koreancompany LOTTE GROUP in the Russian Federation. The company is the sole investor and developer of LOTTE shopping and business complex on 8, Novinskiy Boulevard in Moscow.

      The main activities of the Company are real estate development and asset management, searching for attractive retail & hotel investment opportunities, developing new businesses in Russia and CIS.

      LOTTE RUS is operating LOTTE shopping and business complex, which has been recognized as one of the best development projects in Moscow implemented for recent years. As the next step, in the first half of 2010 we successfully launched the first LOTTE chain hotel in Russia.