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Lotte World Tower (Photo = Lotte Holdings) |
[Alpha Biz= Kim Jisun] Lotte Group has decided to shut down Lotte Healthcare, a business it had been pursuing as one of its new growth sectors, after more than three years.
Lotte Holdings announced on the 24th that it had resolved to liquidate Lotte Healthcare, a wholly owned subsidiary, during an extraordinary general meeting of shareholders. The liquidation process is expected to be completed by the first half of next year.
Lotte established Lotte Healthcare in April 2022 with an investment of 70 billion KRW to enter the health management market. However, after closely reviewing the current market environment, the company concluded that the personalized digital healthcare business would not be able to sustain long-term growth and decided to change its business direction.
In the future, Lotte plans to focus on healthcare businesses in areas such as senior towns and food tech. A notable example is Lotte Hotel's senior residence brand, "VL (Vitality & Liberty)." The first two facilities, "VL Laour" in Busan (Gijang) and "VL LeWest" in Seoul (Magok), are set to begin operations in January and October of next year, respectively.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
