Shinhan Bank is collaborating with Lotte Group to support housing stability and engage in real estate development and investment.
On October 29, Shinhan Bank announced that it signed a memorandum of understanding (MOU) with Lotte Holdings at Lotte World Tower in Songpa-gu, Seoul. The signing ceremony was attended by Shinhan Bank CEO Jeong Sang-hyeok and Lotte Holdings CEO Ko Jeong-wook, along with key officials from both companies.
The agreement aims to combine Shinhan Bank's financial expertise with Lotte Group's real estate capabilities and network to promote housing stability initiatives and expand collaboration in the real estate sector. The two companies plan to explore joint investments or participation in projects related to housing supply and other housing stability efforts.
They will also collaborate on consulting and joint investments for real estate development. Regular meetings will be held to share progress on key collaborative projects and to refine execution plans for each initiative.
Jeong Sang-hyeok, CEO of Shinhan Bank, stated, "Through this agreement, we will combine the expertise and capabilities that both companies have built to create new growth opportunities in real estate development and investment. We aim to contribute actively to realizing the value of housing stability for the public and to enhancing the healthy development of the real estate market and the vitality of our economy."
* This article has been translated by AI.
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