National Pension Service Expands Stake in Lotte Tour Development to 6.07%

Lotte Tour Development announced on the 6th that the National Pension Service disclosed on the 4th that it increased its shareholding ratio from 4.98% to 6.07% (4,429,455 shares), an expansion of 1.09% (3,601,314 shares).

As a result, the National Pension Service secured more than 5% of the shares again within about four months after reducing its stake from 5.17% to 4.03% on November 10 last year, becoming effectively the second largest major shareholder excluding related parties.

Prior to the National Pension Service, Timefolio Asset Management, the number one domestic private equity fund industry, currently holds a 7.19% stake.

Lotte Tour Development explained the National Pension Service's increase in shares by stating, "Since the direct flight route connecting Jeju and China resumed after more than three years at the end of last month, a definite improvement in performance is expected, and it seems that the future value as the biggest beneficiary of the reopening has been highly evaluated."

Starting from the 26th of last month, the China direct flight routes, including the Shanghai-Jeju route operating 35 times a week, resumed full operation with 45 weekly flights. From the 16th onward, the number of China direct flights will increase to 72 weekly flights, and international direct flights connecting Hong Kong, Singapore, Taiwan, and others will be significantly expanded to 143 weekly flights.

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