Photo = Yonhap news

[Alpha Biz= Reporter Kim Jisun] On December 12, Lotte Shopping announced that it will absorb its subsidiary, Lotte Incheon Town, in a bid to enhance management efficiency.

Lotte Incheon Town, a wholly-owned subsidiary of Lotte Shopping, is located in Incheon’s Yeonsu District and is involved in real estate business operations.

In this merger, Lotte Shopping will remain as the surviving company, while Lotte Incheon Town will dissolve after the merger. The effective date for the merger is set for February 18 of the following year.

Earlier this year, Lotte Shopping also completed the absorption of Lotte Suwon Station Shopping Town in March.

 

 

 

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