Due to Inheritance Tax... Shin Youngja, Eldest Daughter of the Late Shin Kyukho, Sells Lotte Chilsung Shares Too

All Lotte Chilsung Shares Sold Following Lotte Corporation and Lotte Shopping
247,073 Shares, Worth Approximately 3.21 Billion Won

Shin Youngja, Chairman of Lotte Foundation and the eldest daughter of the late Lotte Group founder Shin Kyukho, has sold all of her shares in Lotte Chilsung Beverage, following the disposal of her holdings in Lotte Corporation and Lotte Shopping.

On July 23, Lotte Chilsung Beverage announced that Chairman Shin had sold all 247,073 shares through after-hours trading the previous day. The sale price was 129,960 won per share, totaling approximately 32.1 billion won.

As a result of this transaction, the combined stake in Lotte Chilsung held by Chairman Shin Dongbin and related parties decreased by 2.46 percentage points, from 61.50% to 59.04%.

Shin Youngja Chairman of Lotte Scholarship Foundation. Lotte Foundation

Previously, Chairman Shin had disposed of all her 2,112,000 shares in Lotte Corporation and 77,654 shares in Lotte Shopping. The value of the shares sold was approximately 67 billion won for Lotte Corporation and 5.8 billion won for Lotte Shopping, respectively.

Chairman Shin has sold most of her shares in Lotte Group affiliates. However, according to the first quarter report of this year, she still holds 140,939 shares (1.49%) of Lotte Wellfood.

After inheriting shares in Lotte Group companies following the death of Honorary Chairman Shin Kyukho in January 2020, Chairman Shin has reportedly been paying inheritance tax in installments over five years under the deferred payment system.

Meanwhile, on the same day, Lotte Chilsung Beverage disclosed that CEO Park Yoonki purchased 1,100 shares of the company, worth approximately 140 million won, in March.