Lotte Shopping Co., Ltd. (KOSE:A023530) agreed to acquire an unknown stake in Lotte Incheon Development Co., Ltd. from LOTTE Corporation (KOSE:A004990) for KRW 23.9 billion on May 15, 2019. Lotte Shopping Co., Ltd. will acquire 3 million shares for KRW 7,950 each. The Board of Directors of LOTTE Corporation resolved the transaction on May 15, 2019.

The transaction is expected to close on May 27, 2019.