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Stories

Lotte Finance: Venturing Into Vietnam

01 The Challenge

Lotte Card, a Korean credit card company, expanded its credit card services into Vietnam and needed to rent office spaces for its customer service centre and sales branch. However, as the company was unfamiliar with the office market practice in Vietnam, Lotte Card needed a global real estate agency to help provide accurate and descriptive information to secure the right deal.

02 The Solution

Cushman & Wakefield Vietnam teamed up with Cushman & Wakefield Korea to help Lotte Card source ideal properties for their customer service centre. The Cushman & Wakefield team had to make sure that there was no breach/violation of Vietnamese regulations and had to take into consideration current market trends, building condition as well as traffic conditions during the selection process.

03 The Results

Together, Cushman & Wakefield Vietnam and Korea successfully aided Lotte Card with the establishment of both their customer service centre as well as their first office branch in Hanoi and Ho Chi Minh City. Both teams also helped Lotte Card resolve a conflict with the landlord regarding noise issues from another tenant and negotiated for protective clauses to prevent such issues from reoccurring in the future.

With Cushman & Wakefield Vietnam and Korea working closely together, we empowered Lotte Card to minimise its risk and secure an ideal office space in Vietnam.

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