Search results for Lotte Engineering
Industry
Lotte to pay 949.5 billion won early to partner firms ahead of Chuseok
Lotte said on Tuesday it will make early payments of 949.5 billion won to about 12,000 partner firms ahead of the Chuseok holiday to ease funding strains. The programme involves 27 affiliates including Lotte Department Store, Lotte Engineering & Construction, Lotte Global Logistics and Lotte Home Shopping, with payments brought forward by an average of 8 days. Lotte said it has made early payments annually since 2013 and also runs co-prosperity financing and overseas expansion support programmes.
Finance
Hana Bank to make 8 billion won special contribution to support construction partners up to 120 billion won
Hana Bank will provide up to 120 billion won in financial support to construction partner companies facing funding difficulties through an agreement with Lotte Engineering & Construction and the Korea Credit Guarantee Fund. Hana Bank and Lotte will create an 8 billion won special contribution, which will fund up to 120 billion won in guaranteed support. About 2,000 domestic suppliers recommended by Lotte can apply for working-capital loans of up to 3 billion won.
Industry
Lotte Chemical steps up shift to profit-focused portfolio
Lotte Chemical unveiled a strategy to restructure its basic chemicals business and shift its portfolio toward four growth pillars, it said on Thursday. The company held a CEO Investor Meeting in Seoul on April 16 for major domestic institutional investors. It outlined progress at its Daesan and Yeosu petrochemical operations, with Daesan pursuing a merger with HD Hyundai Chemical and Yeosu awaiting government approval for its final restructuring plan.
