Lotte Construction Approves 500 Billion KRW Borrowing to "Strengthen Financial Stability"

Loan Agreement... Borrowing from Lotte Chemical

Lotte Construction announced on the 20th that it has signed a loan agreement worth 500 billion KRW with Lotte Chemical for operating funds.

On the same day, Lotte Construction held a board meeting and resolved to borrow 500 billion KRW from Lotte Chemical for a period of three months until January 18 of next year.

This loan agreement is an extension of the 200 billion KRW paid-in capital increase conducted on the 18th, serving as a preemptive measure to maintain a stable financial structure amid concerns over rising raw material prices and a downturn in the real estate market.

Lotte Construction has borrowed 500 billion KRW through Lotte Chemical and is currently in discussions with domestic and foreign banks for additional funding to further strengthen financial stability, while promoting various collaborations with the group and its affiliates.

A Lotte Construction official stated, "This loan agreement was made as an extension of the previous paid-in capital increase. Lotte Construction is continuously engaging in various discussions to stabilize its financial structure, and with projects located in excellent locations about to commence construction and sales, a more stable financial structure is expected in the future."

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