Lotte to Receive 5 Trillion Won Support for Future Projects from Four Major Commercial Banks

5-Year 5 Trillion Won Financial Support Promised for Future Core Businesses
Securing Investment Resources "Expected to Enhance Group Market Trust"

On the 7th, Lotte announced that it signed a 'Joint Agreement for Fostering Future Core Businesses' with Korea's four major commercial banks: KB Kookmin, Shinhan, Woori, and Hana Bank. This agreement was established to secure investment funds for future core businesses such as secondary battery materials, hydrogen and ammonia, recycling and carbon reduction, and bio sectors. Both parties promised support amounting to 5 trillion KRW over five years.

(From left) Ko Jung-wook, Vice President of Lotte Holdings; Kang Shin-guk, Head of Woori Bank Division; Jung Geun-soo, Vice President of Shinhan Bank; Sung Young-soo, Vice President of Hana Bank; Seo Young-ik, Executive Director of KB Kookmin Bank; and Kim Yeon-seop, CEO of Lotte Energy Materials, are taking a commemorative photo after a joint agreement ceremony for fostering future core businesses on the 7th.
[Photo by Lotte Holdings].

Within Lotte Group, six companies participated in the joint agreement: Lotte Holdings, Lotte Chemical, Lotte Fine Chemical, Lotte Aluminum, Lotte Energy Materials, and Lotte Biologics. Lotte Holdings has officially designated four thematic businesses?Health & Wellness, Mobility, Sustainability, and New Life Platform?as Lotte's new growth engines and is actively fostering them. Through this agreement, Lotte Holdings expects not only to accelerate the promotion of future core businesses but also to enhance market trust in Lotte Group by securing stable investment resources.

The signing ceremony held at Lotte World Tower in Songpa-gu, Seoul, was attended by Shinhan Bank Vice President Jeong Geun-su, Woori Bank Division Head Kang Shin-guk, Hana Bank Vice President Sung Young-soo, and KB Kookmin Bank Executive Director Seo Young-ik. From Lotte Group, Vice President Ko Jung-wook of Lotte Holdings and CEO Kim Yeon-seop of Lotte Energy Materials were present.

Lotte World Tower panorama
[Photo by Lotte Engineering & Construction].

The four major commercial banks stated, "Through this agreement, we plan to practice ESG (Environmental, Social, and Governance) management such as eco-friendly businesses and promote financial support for fostering national new growth engines." They added, "This will serve as an opportunity for companies and financial institutions to share blueprints for future businesses and create mutual synergy."

Meanwhile, Lotte's chemical division is building a value chain for secondary battery core materials including cathode foil, copper foil, electrolyte organic solvents, and separator materials. By 2030, they plan to produce 1.2 million tons of clean hydrogen and expand the eco-friendly recycling materials business to over 1 million tons. Lotte Biologics has completed the acquisition of Bristol Myers Squibb (BMS)'s Syracuse plant in the U.S. and has started full-scale production. By 2030, they plan to invest approximately 3.7 trillion KRW in Songdo, Incheon, to establish a mega plant capable of producing 360,000 liters of antibody pharmaceuticals.

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