Lotte to prepare self-rescue measures such as asset revaluation and sale due to liquidity concerns

Lotte Group has decided to re-evaluate assets and sell low-yield assets to quell recent liquidity concerns.

First of all, Lotte Shopping said it will reevaluate its land assets worth 7.6 trillion won for the first time in 15 years to improve its financial structure.

The department store then explained that it is conducting efficiency focusing on low-profit stores, and in the case of the Busan Centum City branch, it is considering a number of measures, including the sale.

Hotel Lotte is considering selling its affiliated brands "L7" and "City" and then converting them to consignment, while Lotte Engineering & Construction plans to clean up insolvent workplaces to reduce interest costs.

Earlier, Lotte Chemical announced that it will provide Lotte World Tower as collateral to the banking sector to strengthen the creditworthiness of corporate bonds.