[Featured Stock] "Lotte Chemical Supported by Lotte Holdings, Stock Price Turns Bearish Again↓"

Lotte Chemical is weak again.

As of 9:42 a.m. on the 29th, Lotte Chemical was trading at 65,600 won, down 3,800 won (5.48%) from the previous trading day.

The day before, Lotte Chemical's stock price showed strength. Lotte Chemical is currently facing the repayment of corporate bonds worth about 2 trillion won, and Lotte Corporation has stepped in to support. Instead of the contract clause that was directly blamed for the Lotte Chemical corporate bond default (EOD) incident, which required 'EBITDA/interest expenses to be more than 5 times,' they removed this clause and instead put up the Lotte World Tower, which reaches 123 floors, as collateral.

Meanwhile, Lotte Group carried out the largest executive reshuffle in its history the day before. According to Lotte's internal standards, out of 58 affiliates, nearly one-third, 18 CEOs, were replaced at once. Among the affiliates with CEO changes were major affiliates such as Lotte Chemical, Lotte Duty Free, and Hotel Lotte. 22% of all executives in Lotte Group retired due to this reshuffle. Shin Yoo-yeol (38), head of future growth at Lotte Corporation and son of Lotte Group Chairman Shin Dong-bin, was promoted to vice president.

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