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

Increased Stake by 1.09% on the 4th
Returned as Major Shareholder After About 4 Months

The National Pension Service has returned as a major shareholder of Lotte Tour Development.

On the 6th, Lotte Tour Development announced through a disclosure on the 4th that the National Pension Service increased its shareholding ratio from the previous 4.98% to 6.07% (4,429,455 shares).

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

Lotte Tour Development's Chairman Kim Gibyung and his family, along with its affiliate Donghwa Investment Development, hold 39.36% of the shares. The private equity fund Timefolio Asset Management holds 7.19%.

Regarding the National Pension Service's increased stake, Lotte Tour Development explained, "Since the end of last month, direct flights connecting Jeju and China have resumed after more than three years, and it seems that the future value has been highly evaluated following the reopening of the economy."

Jeju Dream Tower Complex Resort View Photo by Lotte Tour Development.

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