Shin Youngja, Eldest Daughter of the Late Shin Kyukho, Sells All Shares in Lotte Group's Listed Companies

Sale of Lotte Wellfood Shares
Disposal of Stakes in Lotte Corporation, Lotte Shopping, and Lotte Chilsung Beverage
Likely Aimed at Securing Inheritance Tax Funds

Shin Youngja, Chairperson of Lotte Foundation and the eldest daughter of the late Lotte Group founder Shin Kyukho, has sold all of her shares in Lotte Wellfood. As a result, Shin has now disposed of all her shares in Lotte Group's listed affiliates.

Shin Youngja, Chairperson of Lotte Foundation. Photo by Lotte Foundation

According to the Financial Supervisory Service's electronic disclosure system on October 1, Shin sold 40,000 shares of Lotte Wellfood in an after-hours block deal on September 12. She also plans to sell the remaining 100,939 shares using the same method on October 2.

Previously, in July, Shin sold all of her 2,112,000 shares in Lotte Corporation and 77,654 shares in Lotte Shopping, with the transactions amounting to 67 billion won and 5.8 billion won, respectively. In the same month, she also disposed of all her 247,073 shares in Lotte Chilsung Beverage for 32.1 billion won. The Lotte Foundation explained that Shin's sale of her holdings was "to secure funds for inheritance tax."

Since inheriting Lotte Group shares after the death of Honorary Chairman Shin Kyukho in January 2020, Shin has been paying inheritance tax through an installment payment plan. As of June, she also held unlisted shares including 894,144 shares (0.85%) of Korea Seven, 736 shares (3.51%) of Korea Fujifilm, 1,315 shares (0.13%) of Lotte Aluminium, 46,014 shares (0.14%) of Lotte Construction, 4,194 shares (0.17%) of Lotte Members, 2,753 shares (1.25%) of Lotte Trading, 261 shares (6.24%) of Daehong Communications, 177,936 shares (0.53%) of Lotte Capital, and 11 shares (0.00%) of Lotte GRS. However, it has not been confirmed whether she has sold any of these unlisted affiliate shares.