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Shin Young-ja, Chairperson of Lotte Foundation (Photo = Lotte Foundation) |
[Alpha Biz= Kim Jisun] Seoul, October 1 – Shin Young-ja, Chairperson of the Lotte Foundation and eldest daughter of the late Lotte Group founder Shin Kyuk-ho, has disposed of her entire stake in Lotte Wellfood, effectively divesting all common shares she held in Lotte Group’s listed affiliates.
According to a disclosure filed with the Financial Supervisory Service (FSS), Shin sold 40,000 shares of Lotte Wellfood through after-hours trading on September 12. She is scheduled to sell the remaining 100,939 shares in the same manner on October 2. Following this transaction, Shin will no longer hold common shares in any Lotte Group listed companies.
This latest move follows a series of disposals earlier this year. In July, Shin sold 2,112,000 shares of Lotte Corporation (KRW 67 billion), 77,654 shares of Lotte Shopping (KRW 5.8 billion), and 247,073 shares of Lotte Chilsung Beverage (KRW 32.1 billion).
Industry observers note that Shin’s continued divestments are linked to inheritance tax obligations. After inheriting stakes in Lotte affiliates following the passing of Honorary Chairman Shin Kyuk-ho in January 2020, she has been paying inheritance taxes through an installment payment plan.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
