Lotte Shopping Secures 1 Trillion KRW Investment for ESG Core Projects Over 5 Years

NH Nonghyup and Hana Bank Sign ESG Core Business Agreement
Early Payment of Partner Company Product Fees
Loan Support Through Win-Win Growth Fund

Lotte Shopping announced on the 16th that it will sign a 'Joint Agreement for Fostering Core ESG (Environment, Social, Governance) Businesses' with NH Nonghyup Bank and Hana Bank. The signing ceremony will take place at Lotte World Tower in Songpa-gu, Seoul, with Lee Yeon-ho, Vice President of NH Nonghyup Bank, Jeon Woo-hong, Vice President of Hana Bank, and Jang Ho-joo, Head of Financial Innovation at Lotte Distribution HQ, in attendance.

Lotte Department Store Main Branch Exterior [Photo by Lotte Shopping].

This agreement was established to secure investment funds for core ESG projects, including mutual growth with partner companies and the execution of a carbon neutrality roadmap. Lotte Shopping will receive support amounting to 1 trillion KRW over five years.

Through this, Lotte Shopping plans to expand its ESG management. It will support small and medium-sized partner companies facing liquidity crises due to the economic downturn. The company plans to strengthen mutual growth with partners by providing early payment for products and supporting loans through the establishment of a mutual growth fund. It will also improve energy efficiency by installing LED lighting and energy-saving heating and cooling systems, expand the introduction of solar power self-generation, and strive to achieve 'carbon neutrality by 2040' in accordance with the carbon neutrality roadmap promoted by Lotte Group. With stable investment resources secured, the company expects market trust in Lotte Shopping to increase.

NH Nonghyup Bank and Hana Bank stated, "This agreement was signed to support the fostering of core ESG businesses together with Lotte Shopping," adding, "We will continue to fulfill our fundamental financial role by creating a virtuous cycle of mutual growth for co-prosperity."

Jang Ho-joo, Head of Financial Innovation at Lotte Distribution HQ, said, "With this agreement, we have secured stable investment resources, enabling Lotte Shopping to accelerate the promotion of core ESG projects," and added, "Lotte Shopping will take the lead in ESG management activities by swiftly responding to the retail market environment and ESG financial trends."

Meanwhile, Lotte Shopping established an ESG Committee in 2021, declaring the inaugural year of ESG management. Last year, it received an A grade for five consecutive years in the integrated ESG evaluation conducted by the Korea Corporate Governance Service (KCGS). In March, it became the first retailer to join the Science Based Targets initiative (SBTi), and through its integrated ESG campaign brand, RE:EARTH, Lotte Shopping is also carrying out various activities.

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