Shin Young-ja (front), Chairperson of the Lotte Foundation, and Jang Hye-sun, Director of the Lotte Scholarship Foundation

 

 

[Alpha Biz= Kim Jisun] Shin Young-ja, Chairperson of the Lotte Foundation and eldest daughter of the late Lotte founder Shin Kyuk-ho, has sold her entire stake in Lotte Chilsung Beverage, following similar disposals of her shares in Lotte Corporation and Lotte Shopping.



According to a filing with the Financial Supervisory Service on July 23, Shin sold all 247,073 common shares of Lotte Chilsung via a block trade on July 22. The shares were sold at ₩129,960 each, amounting to approximately ₩32.1 billion (roughly $23 million).



A representative of the Lotte Foundation stated, “The transaction was made to fulfill inheritance tax obligations. As this is a personal matter for Chairperson Shin, the foundation has no further information to provide.”



Shin inherited stakes in various Lotte affiliates following the death of founder Shin Kyuk-ho in January 2020. She has reportedly been paying inheritance tax through an installment plan over five years.



Previously, she also sold her entire holdings in Lotte Corporation (2.11 million shares worth ₩66.9 billion) and Lotte Shopping (77,654 shares worth ₩5.8 billion).

 

 

 

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