by Tony Chai | Chief Editor | firstname.lastname@example.org
▲ Myungho Lee(left) and Thoams Y. Yoo(right) picked ‘K Towne Plaza’ as the project’s new name.
Lotte Plaza, a Korean shopping center being constructed in Carrollton, has changed its name to ‘K Towne Plaza.’
K Towne Plaza officials held a news conference Wednesday morning to announce its official name change.
The name ‘Lotte’ is the same name as the well-known Korean global corporation Lotte Group.
When Lotte Plaza, now K Towne Plaza, announced its plans to build a Korean shopping center at the intersection of Hebron Parkway and Sam Ray Burn Tollway, many people thought the Korean company was coming to North Texas.
However, Lotte Plaza is strictly a local project and there were some concerns about potential copyright issues.
Before the project went further along into the process, Lotte Plaza officials decided to change its name.
Lotte Plaza held a ‘new name sweepstakes’ for the past month or so, and they picked the winner this morning.
So, going forward the official name of the project is K Towne Plaza and, likewise, the anchor tenant will be named K Towne Mart.
Over 600 people, mainly Korean-Americans, submitted about 1,500 names. 9 of them enter ‘K Town.’
YSD, LLC, which is the primary investor of the project, picked ‘K Town Plaza’ and added an extra ‘e’ at the end, thus the name ‘K Towne Plaza’ and ‘K Towne Mart.’
According to Thomas Yoo, the president and CEO of YSD, said the reasoning behind adding the extra ‘e’ is to separate the project from businesses in other industries operating under the same name.
YSD officials drew from the 9 people who submitted ‘K Town’ and picked one winner. The winner is Wonho Choi of McKinney. He will be receiving the $3,000 cash prize.