Lotte Rental

Lotte Rental is a South Korean rental and mobility services company affiliated with Lotte Corporation and headquartered in Anyang. Its business is centered on providing access to vehicles and other assets through rental, leasing, subscription, and related asset-management services rather than requiring customers to purchase them outright. The company serves both individual and corporate customers and combines rental operations with maintenance, insurance-related support, fleet management, remarketing, and digital mobility services. The business traces its origins to Korea Telecom Promotion, which was established in May 1986 as a subsidiary of KT Corporation. Its initial focus was the leasing of information and telecommunications equipment. In 1989, it expanded into automobile rental, establishing the foundation for the vehicle-focused business that later became its principal operating area. In 2005, KT Corporation separated its rental operations from KT Networks and established KT Rental as a distinct company. The business expanded substantially in 2010 when KT Rental acquired Kumho Rent-A-Car from the Kumho Asiana Group, strengthening its position in South Korea's automobile-rental market. In 2015, KT Corporation sold KT Rental to Lotte Corporation. Following the transaction, the company adopted the Lotte Rental name and became part of the broader Lotte Group portfolio. The change of ownership connected the rental business with Lotte's consumer, retail, travel, and service ecosystem while preserving its specialized operating focus. In 2020, Lotte Rental acquired the rental-car business of the Hanjin Group, adding further scale to its automotive operations. The company completed an initial public offering on the Korea Exchange in August 2021 and has subsequently described its growth in terms of mobility, digital services, and the expansion of rental categories. Automotive rental remains the company's core activity. Its long-term rental products allow individuals and businesses to use vehicles through recurring payments, generally with services such as maintenance, insurance support, and vehicle administration incorporated into the arrangement. Short-term rental services are supplied through airport and urban branch networks for travelers, temporary users, and customers seeking flexible access to a vehicle. The company also operates in used-vehicle sales, remarketing vehicles returned from its rental fleet through auction and online or offline sales channels. Beyond cars, Lotte Rental supplies corporate and industrial assets, including construction equipment, logistics machinery, and office devices. These services are intended to reduce customers' upfront capital requirements and can include maintenance and asset-management assistance. The company has also developed mobility-platform activities such as car-sharing and vehicle-subscription services, using applications for reservations, payments, and vehicle access. Its newer rental initiatives extend into consumer and household goods, including home appliances and other lifestyle products. This combination positions Lotte Rental as a broad rental and mobility provider whose model links recurring-use services, fleet operations, digital platforms, and the resale of returned assets.

Lotte Rental began in May 1986 under the name Korea Telecom Promotion, a subsidiary of KT Corporation. The original business concentrated on leasing information and telecommunications equipment, reflecting the growing need for organizations to use communications technology without purchasing and maintaining all of it themselves. In 1989, the company entered automobile rental, adding a business that would eventually become central to its identity and scale. A major organizational change came in 2005, when KT Corporation separated its rental operations from KT Networks and established KT Rental. The new structure gave the rental business a clearer corporate identity and allowed it to develop its fleet and equipment activities as a dedicated operation. In 2010, KT Rental acquired Kumho Rent-A-Car from the Kumho Asiana Group. That transaction materially strengthened its presence in the Korean vehicle-rental industry and expanded the operational base from which it could serve individual travelers, long-term users, and corporate fleets. In 2015, KT Corporation sold KT Rental to Lotte Corporation. After the acquisition, the business was renamed Lotte Rental and became part of Lotte Group. Its connection with the group placed a large established consumer and service company behind the rental operation, while the rental business continued to operate as a specialized provider of vehicle and asset-access services. In 2020, Lotte Rental acquired Hanjin Group's rental-car business, further consolidating its automotive-rental activities. Lotte Rental completed an initial public offering in August 2021 and became listed on the Korea Exchange's KOSPI market. Following its listing, the company continued to emphasize mobility and the development of additional rental categories. Its automotive business includes short-term rentals through airport and city branches and long-term rentals for consumers and corporate customers. Long-term arrangements commonly combine vehicle use with services such as maintenance, insurance support, and fleet administration. The company also sells vehicles returned from its rental fleet through auctions and other sales channels, connecting rental operations with used-vehicle remarketing. The company has retained a broader asset-rental role alongside its automotive business. It serves corporate customers with construction equipment, logistics machinery, and office devices, helping them limit initial capital spending and obtain maintenance or asset-management support. It has also moved into digital mobility through car-sharing, reservations, payments, vehicle access, and subscription-style services delivered through digital platforms. Further expansion into home appliances and household products reflects an effort to apply the rental model to wider lifestyle needs. As a result, Lotte Rental's development has progressed from telecommunications-equipment leasing to a diversified Korean rental platform combining vehicles, industrial assets, digital mobility, and consumer goods.

• 2021

  Listed on KOSPI

  [1]Lotte Rentalen.wikipedia.org

  The company completed its initial public offering and was listed on the Korea Exchange's KOSPI market in August.

• 2020

  Hanjin rental-car business acquired

  [1]Lotte Rentalen.wikipedia.org

  Lotte Rental acquired the rental-car business of Hanjin Group.

• 2015

  Acquired by Lotte Corporation and renamed

  [1]Lotte Rentalen.wikipedia.org

  Lotte Corporation purchased KT Rental from KT Corporation, after which the company became Lotte Rental.

• 2010

  Kumho Rent-A-Car acquired

  [1]Lotte Rentalen.wikipedia.org

  KT Rental acquired Kumho Rent-A-Car from the Kumho Asiana Group, expanding its vehicle-rental operations.

• 2005

  KT Rental established

  [1]Lotte Rentalen.wikipedia.org

  KT Corporation separated its rental business from KT Networks and established KT Rental as a distinct company.

• 1989

  Entered automobile rental

  [1]Lotte Rentalen.wikipedia.org

  The business expanded beyond telecommunications equipment and entered the automobile-rental market.

• 1986

  Korea Telecom Promotion established

  [1]Lotte Rentalen.wikipedia.org

  The company was established in May 1986 as a KT Corporation subsidiary focused on leasing information and telecommunications equipment.

A Korean rental and mobility specialist built around vehicle access, fleet management, asset leasing, and increasingly digital and lifestyle-oriented rental services.

• Automotive rental

  Long-term automobile rental

  A recurring-payment vehicle-use service for individual and corporate customers. Long-term arrangements are designed to provide access to a vehicle without direct ownership and may bundle maintenance, insurance support, and vehicle-management services. The model is particularly relevant to corporate fleets and customers seeking predictable operating arrangements.

• Automotive rental · 1989

  Short-term automobile rental

  Short-duration vehicle rental supplied through airport and urban branch networks. The service supports travelers, temporary users, and customers who need a vehicle for a limited period rather than through a long-term lease or purchase.

• Equipment rental

  Corporate and industrial equipment rental

  Rental services for business assets such as construction equipment, logistics machinery, and office devices. These offerings can reduce upfront capital expenditure and may include maintenance, servicing, and asset-management support.

• Automotive remarketing

  Used-vehicle sales and remarketing

  The company resells vehicles returned from its rental fleet through auctions and online or offline sales channels. This activity helps turn fleet assets back into cash, supports vehicle replacement cycles, and connects the rental business with the used-car market.

• Mobility platform

  Digital mobility services

  Digital services including car-sharing and vehicle subscriptions. Applications support functions such as reservations, payments, and vehicle access, while data-driven systems are used to improve convenience and manage vehicle utilization.

• Consumer rental

  Lifestyle and household-goods rental

  Rental services extending beyond mobility into consumer goods such as home appliances and household products. This category represents the company's effort to apply recurring-use and rental-service models to broader lifestyle needs.

• 2021

  Initial public offering and KOSPI listingOther

  Background

  After expanding its rental-car and mobility operations, Lotte Rental pursued access to the public equity market.

  Action taken

  The company completed an initial public offering and was listed on the Korea Exchange's KOSPI market in August 2021.

  Aftermath

  The listing gave the company a public-market structure as it continued investing in mobility and new rental businesses.

  Source

• 2020

  Acquisition of Hanjin's rental-car businessM&A

  Background

  Lotte Rental pursued additional scale in the Korean automotive-rental market.

  Action taken

  The company acquired Hanjin Group's rental-car business.

  Aftermath

  The acquisition expanded Lotte Rental's automotive-rental operations and fleet-related platform.

  Source

• 2015

  Acquisition by Lotte CorporationM&A

  Background

  KT Corporation decided to sell KT Rental, a rental business with established automotive operations, to Lotte Corporation.

  Action taken

  Lotte Corporation acquired the company, which was subsequently renamed Lotte Rental and incorporated into the Lotte Group network.

  Aftermath

  The transaction changed the company's ownership and brand identity while it continued expanding vehicle, equipment, mobility, and lifestyle rental services.

  Source

1. 1Lotte Rentalen.wikipedia.org