Lotte Holdings to Support Lotte Giants... "Full Effort on Player Contracts and Recruitment"

190 Billion KRW Capital Increase Approved
Strengthening Infrastructure Investment in Baseball Stadium and Scientific Equipment
Shin Dong-bin Also Attends Lee Dae-ho Retirement Ceremony

Lotte Giants fans are cheering at Busan Sajik Baseball Stadium. (Photo by Lotte Holdings)

[Asia Economy Reporter Lim Chun-han] Lotte Holdings announced on the 27th that it will provide financial support for season operations and investments to secure the future capabilities of the Lotte Giants.

On the same day, Lotte Holdings' board of directors approved a paid-in capital increase of 19 billion KRW to improve the financial structure of the Lotte Giants. This capital increase will be conducted through a shareholder rights offering, with Lotte Holdings acquiring 1,964,839 common shares at 9,670 KRW per share. The Lotte Giants will not only improve their debt ratio and reduce interest expenses but also secure stable funds for future investments and season operations.

With the secured funds, the Lotte Giants plan to focus on player contracts and acquisitions to enhance team management and improve performance. As the first step, on the 26th, the team signed a multi-year contract equivalent to free agency (5 years, total 9 billion KRW) with their star starting pitcher Park Se-woong, marking the first such contract in the club's history. They also plan to strengthen their roster by considering external acquisitions for weak positions.

Investment in club infrastructure such as the baseball stadium and scientific equipment will also be strengthened. Since 2019, the Lotte Giants have been steadily investing in their second-team stadium, Sangdong Baseball Stadium, including the introduction of advanced equipment for data-driven baseball and the construction of an indoor batting cage. After this season ends, they plan to replace the artificial turf at Sangdong Baseball Stadium and maintain the grounds with soil installation similar to Sajik Baseball Stadium, creating an environment identical to the first-team stadium to improve the second-team players' adaptation to the first team.

Support to boost team morale is also being generously provided. Lotte Holdings participated in the retirement ceremony ‘RE:DAEHO’ for player Lee Dae-ho held on the 8th. The event concluded amid the passionate cheers of 22,990 fans filling Sajik Baseball Stadium. Notably, Shin Dong-bin, Chairman of Lotte Group, personally visited Sajik Baseball Stadium to sincerely support Lee Dae-ho’s second life and presented a permanent retirement number ring ‘No. 10’ to Lee Dae-ho and his wife Shin Hye-jung.

Lotte Holdings stated, “Even after this financial support, we plan to expand communication and cooperation with the Lotte Giants to prepare for the next season.”

This content was produced with the assistance of AI translation services.