Lotte Card Co., Ltd, No.5 credit card issuer in the Republic of Korea, said on May 2 that it has funneled 93.7 billion KRW (68 million USD) into its Vietnamese unit - Lotte Finance Vietnam - to expand its business in the Southeast Asian country.

The Vietnamese Government is supportive of Lotte group’s expansion into business fields of strength, including consumer finance, Deputy Prime Minister Vuong Dinh Hue assured Chairman and CEO of the Republic of Korea (RoK)’s Lotte Card Kim Chang-kwon during a reception in Hanoi on September 6.

Consumer finance is proving to be an attractive sector with the number of foreign companies rising through mergers and acquisitions, the news site cafef.vn reported.