South Korea's fifth-largest conglomerate Lotte Group said Wednesday it plans to create a consultative body to boost business efficiency for its retail affiliates.
The retail giant said the group will be comprised of teams in charge of procurement, facility, design, public relations and new businesses at its 14 retail-related affiliates.
Employees enter a Lotte Group office building in downtown Seoul on Aug. 26, 2016. (Yonhap)
The plan is aimed at improving business efficiency and maintaining consistency between the affiliates' key policies, it said.
"We could ultimately merge the departments, but it could take more time as we would need to resolve the issues of reducing or reassigning employees," a Lotte official said, adding that they are reviewing various options. (Yonhap)