[Featured Stock] Lotte Wellfood Surges Over 5% on Merger Plans with Lotte Sangsa

Lotte Wellfood is showing strength following news of a merger with Lotte Sangsa.

As of 9:18 AM on the 7th, Lotte Wellfood is trading at 157,200 KRW, up 7,700 KRW (5.15%) from the previous day.

On the previous day, Lotte Wellfood announced, "We are reviewing various options regarding the merger with Lotte Sangsa, but nothing has been finalized," adding, "We will re-disclose once specific details are decided or within one month."

Lotte Sangsa supplies concentrated agricultural and marine products and food raw materials domestically and operates overseas subsidiaries in the United States, Vietnam, Australia, and Russia. If this merger takes place, Lotte Wellfood can expect cost reductions and synergies through integration with its raw material supplier Lotte Sangsa, while Lotte Sangsa is expected to benefit from improved productivity.