Korean discount store to launch car rental service

Lotte Mart Co., South Korea's third-largest discount store chain, said Wednesday that it will start a car rental service this week in strategic partnership with CXC Motors, a local dealer of foreign cars. Lotte Mart will provide its car rental service at five stores including its Jamsil location in the southwestern part of Seoul and its online Lotte Mart Mall starting Thursday, the company said in a statement. The discount store chain will expand the number of stores that will provide the car rental service to 40 by the end of 2013. Under the car rental service, a consumer can drive a rental car from a minimum of 12 months to a maximum of 55 months under a vehicle management system that will handle a spate of car-related business including car insurance, taxes and accidents, Lotte Mart said.