Lotte Food, Suspension of Operations in Meat Business Division Decided

[Asia Economy Reporter Lee Seon-ae] Lotte Food announced on the 8th that it has decided to suspend operations in the meat business division as of December 31.

The suspension involves halting production and sales in the meat business division. The reason cited is continuous business downturn and low growth potential due to sensitivity to the business environment.

The amount affected by the suspension is 196.4 billion KRW, accounting for 11.43% of last year's sales. Following the suspension of the meat business, the relevant production section at the Gimcheon plant will cease production.