[Featured Stock] Lotte Chemical Surges Over 4% Following Clarification of 'Stable Liquidity'

Lotte Chemical is soaring sharply from the start of trading following Lotte Group's proactive clarification regarding liquidity crisis rumors.

As of 10:31 a.m. on the 21st, Lotte Chemical is trading at 68,100 KRW, up 4.45% (2,900 KRW) compared to the previous day.

On this day, Lotte Group released explanatory materials stating that there is no problem with the repayment of principal and interest on corporate bonds despite the violation of financial covenants related to Lotte Chemical's corporate bonds. Lotte Holdings reported that as of October, Lotte Chemical has secured a total available liquidity fund of approximately 4 trillion KRW, including 2 trillion KRW in available deposits.

Lotte Holdings emphasized, "This issue has arisen due to the recent decline in profitability of Lotte Chemical caused by the downturn in the petrochemical industry, but the company has secured sufficient liquidity, so there is no problem with the repayment of principal and interest on corporate bonds."

They added, "We will maintain stable management through smooth consultations with affiliates and ensure sufficient liquidity when necessary to thoroughly manage financial stability. Regarding this issue, Lotte Holdings will manage it closely with the main creditor banks to ensure a smooth resolution."