[Edaily Reporter KYUNG GYEYOUNG ] Lotte Shopping ( LOTTE SHOPPING CO., LTD.(023530)) announced on the 13th that it has agreed to purchase a land stake in Sinmun-dong, Gimhae, South Gyeongsang Province, from its affiliate, Lotte Hotel, for 63.5 billion won.
This site is home to the Lotte Premium Outlet Gimhae. LOTTE SHOPPING CO., LTD. previously owned a portion of the site and will now secure the entire property through this purchase.
LOTTE SHOPPING CO., LTD. explained that this acquisition was made to enhance financial and operational efficiency.
In addition, LOTTE SHOPPING CO., LTD. announced on the same day that it would lease a plot of land in Jamsil-dong, Songpa-gu, Seoul, from Lotte Hotel for 16.9 billion won. The lease term runs from January 1, 2026, to December 31, 2028.
The company stated that this lease covers the portion of the land used in excess of LOTTE SHOPPING CO., LTD.’s ownership stake.
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