[Featured Stock] Lotte Holdings Rises on News of Securing Sufficient Liquidity

Lotte Holdings, which had fallen amid rumors of a recent liquidity crisis, is rebounding after stating that it has secured sufficient liquidity.

On the 21st, Lotte Holdings recorded 21,150 KRW, up 2.92% from the previous day.

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

As of October, Lotte Group's total assets amount to 139 trillion KRW, and the value of its stock holdings reaches 37.5 trillion KRW. The total real estate value of the group is 56 trillion KRW based on the October evaluation, and immediately available deposits amount to 15.4 trillion KRW.

Lotte Holdings 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 closely communicate with the main creditor banks to manage and resolve it smoothly."