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A persistent liquidity crunch at Lotte Group s construction unit prompted Korea s fifth-largest conglomerate to pour over 1 trillion won ($750 million) into Lotte E&C over the past month, despite a worsening credit outlook for other affiliates. In addition to fundraising from the group s affiliates and loans from banks, Lotte Group Chairman Shin Dong-bin s personal assets were even used to rescue the cash-strapped builder.
A persistent liquidity crunch at Lotte Group s construction unit prompted Korea s fifth-largest conglomerate to pour over 1 trillion won ($750 million) into Lotte E&C over the past month, despite a worsening credit outlook for other affiliates. In addition to fundraising from the group s affiliates and loans from banks, Lotte Group Chairman Shin Dong-bin s personal assets were even used to rescue the cash-strapped builder.
Kim Sung-jin-III (김성진) hancinema.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hancinema.net Daily Mail and Mail on Sunday newspapers.