Lotte Initiates Development of 4 Trillion Won Seocho-Dong Site

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Lotte Group, which possesses real estate worth approximately 50 trillion won, is set to embark on full-scale real estate development on idle sites, including factories, this year. Facing a "credit crunch" due to the poor performance of affiliates such as Lotte Chemical and Lotte Construction, Lotte Group has picked up the "real estate development card" as a way to overcome its liquidity crisis. According to multiple senior officials at Lotte Gro…

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Lotte Group is embarking on large-scale real estate development to overcome the sluggish performance of its subsidiaries and the liquidity crisis. By utilizing idle land valued at approximately 50 trillion won, the group plans to directly develop apartments and mixed-use shopping malls, thereby [aiming] for the group's overall