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South Korean retail giant and the nation's fifth-largest conglomerate Lotte Group is reportedly resorting to liquidating billions of won in assets as it grapples with flagging performance posted across its major subsidiaries. According to the Financial Supervisory Service's electronic disclosure board, Lotte Holdings reported 211.7 billion won ($157 million) in operating profits in the January-June period t. ....
South Korean retail giant and the nation's fifth-largest conglomerate Lotte Group is reportedly resorting to liquidating billions of won in assets as it grapples with flagging performance posted across its major subsidiaries. According to the Financial Supervisory Service's electronic disclosure board, Lotte Holdings reported 211.7 billion won ($157 million) in operating profits in the January-June period t. ....
Shin Yoo-yeol, vice president at Lotte Chemical and the eldest son of Lotte Group Chairman Shin Dong-bin, is extending his status as a third-generation successor of the conglomerate, as he was recently tapped to concurrently lead Japan-based Lotte Financial Corp., in addition to his current role at Lotte Chemical. ....
Lotte Chemical is facing growing concerns over the possibility of suffering financial risks, due to loans extended recently to the group s construction unit, Lotte E&C, according to industry officials, Friday. Lotte E&C said late Thursday that it signed a contract with Lotte Chemical to borrow 500 billion won ($348 million) at an annual interest rate of 6.39 percent, on the condition of repaying the principal and interest before Jan. 18 next year. ....
Domestic builders are facing growing concerns over the possibility of a series of bankruptcies amid worsening investor sentiment in the wake of the recent slump in the real estate market, according to industry officials, Thursday. Late last month, Wooseok Construction, a medium-sized builder based in South Chungcheong Province, failed to repay its debt in time. If the company fails to make the payment again, it will be forced into bankruptcy. ....