[Edaily Reporter KYUNG GYEYOUNG ] Shin Dong-bin, Chairman of Lotte Group, has decided to sell a portion of his stake in LOTTE SHOPPING CO., LTD. valued at 42 billion won.

LOTTE SHOPPING CO., LTD.(023530) In a transaction plan report filed on the 22nd, Chairman Shin announced his intention to sell 324,100 shares of Lotte Shopping between August 21 and September 18. Based on the previous day’s closing price of 130,400 won per share, this amounts to 42.26264 billion won.

Although the plan is to sell on the open market, he also stated that, depending on market supply and demand conditions, he may conduct a block trade outside regular trading hours.

Regarding this sale plan, Chairman Shin explained in the report that it is “for the purpose of securing cash liquidity.”

Chairman Shin’s stake in LOTTE SHOPPING CO., LTD. will decrease by 1.15 percentage points, from 10.23% to 9.08%. However, since affiliates and related parties—including Lotte Department Store ( Lotte Corporation(004990) ) with 40.0% and Lotte Hotel with 8.86%—hold approximately 60% of the shares, the move is not expected to affect the company’s corporate governance structure.

This is a disclosure required under the Capital Markets Act. Under the Act, executives or major shareholders of listed companies are required to report their trading plans at least 30 days prior to the start of trading when trading shares representing 1% or more of the total issued shares or worth 5 billion won or more.