South Korean retailer Lotte Shopping will embark on a domestic and overseas expansion.

The department store operator plans to invest $1.7 billion to open eight new stores in 2014. The openings will be a combination of department stores, outlet malls and shopping malls.

It will open department stores in Seoul’s Jamsil and Suwon and a shopping mall, outlet mall and discount store in Busan.

In May, it will start constructing a shopping mall in Shenyang, China.

It will also open department stores in Vietnam, it says.