Retail giant Lotte Shopping is to open today a new department store and duty free shop in Jakarta, Indonesia.

The Lotte Shopping Avenue Jakarta is to be a comprehensive shopping center, including a department store, casual shopping mall and a duty free shop, according to officials.

It is the company’s fifth department store overseas and its first duty free shop in a downtown area.

The 124,600-square-meter mall is located in the Chiputra World Jakarta complex in the Mega Kuningan area, which the Indonesian government is planning to develop as a special shopping and tourist zone.

Lotte Group’s food and beverage brands, such as Lotteria and Angel in Us will also open stores within the shopping center, officials said.

“The Avenue Jakarta branch will offer to local residents and tourists all the comfort and advantages of Korean-style shopping malls,” said Lotte Shopping CEO Shin Heon.

“It will also act as a strategic foothold for our expansion into the Southeast Asian region.”

In recent years, Korean retailers have been turning their eye to the overseas market due to the prolonged stagnancy of the domestic market and the escalating level of regulations.

By Bae Hyun-jung (tellme@heraldcorp.com)