Lotte Group plans to use its tallest building in South Korea as collateral to address liquidity concerns in its battery materials unit.
This decision comes after Lotte Chemical Corp. failed to meet a financial ratio due to challenges in the petrochemical industry.
Lotte Chemical will hold a meeting for bondholders on December 19 to discuss adjustments to the interest coverage ratio clause.
This move reflects the conglomerate's efforts to stabilize its financial position in the face of industry pressures.