[THE INVESTOR] The widening probe into Lotte Group over alleged embezzlement and the creation of a slush fund is shedding light on the South Korean retail giant’s vast real estate, the scale of which is thought to be the largest among conglomerates here if both listed and unlisted units are combined.
The value of property owned by Lotte’s eight listed units is estimated to be 10.7 trillion won ($9.08 billion) as of 2015, the third largest in the nation, following Hyundai Motor Group with property valued at 24.2 trillion won and Samsung Group with 14.1 trillion won, according to chaebul.com, a website that specializes in information about family-run conglomerates.
Lotte World Tower in Jamsil, southeastern Seoul. The Investor
Industry insiders say that if Lotte’s key affiliates that are unlisted on the Seoul bourse are taken into consideration, the property value owned by the group is estimated to exceed the size of Hyundai Motor Group and Samsung Group.
The unlisted Lotte Engineering and Construction claims 75 percent of land ownership of the 123-story skyscraper Lotte World Tower in Seoul, while Hotel Lotte, the de facto holding firm of the group’s businesses, is thought to own real estate valued at 8 trillion won.
By Ahn Sung-mi (firstname.lastname@example.org)