LOTTE Wellfood officially denied rumors of a merger with LOTTE Corporation.
According to the Financial Supervisory Service's electronic disclosure system on the 30th, LOTTE Wellfood stated, "We have considered various options regarding a merger with LOTTE Corporation, but as a result of considering various management environments both inside and outside the corporation, we currently have no plans to pursue a merger with LOTTE Corporation."
Earlier, some media outlets reported that last year LOTTE Wellfood organized a task force (TF) and planned to absorb and merge with the unlisted LOTTE Corporation. In this regard, LOTTE Wellfood had stated through a disclosure last August that "We are reviewing several options regarding the merger with LOTTE Corporation."
LOTTE Wellfood has maintained its position that no merger has been confirmed until recently. However, it officially denied the merger with LOTTE Corporation through the disclosure on this day.