Lotte Capital has invested 5 billion won ($4.4 million) in commercial papers of its affiliate Lotte PS Net, an IT system and database developer of Lotte’s Korea Seven.
Lotte PS Net said that it plans to use the proceeds to finance its operations.
Korea Seven is an operator of Lotte’s 7-Eleven convenient stores. Korea Seven’s biggest shareholder is Lotte Shopping, according to an audit filing.
By Park Hyong-ki (hkp@heraldcorp.com)