Pulse says Lotte, which is involved in the confections business as well as logistics and other businesses, is already a owner of Hyundai Logistics through the company IGIS I Corp., and would use the purchase to “reinforce its delivery and logistics business.”
It said the deal could help “ease the cash crunch” at struggling South Korean shipping firm Hyundai Merchant Marine, which is also a partner in IGS I, as the company attempts to restructure its massive debts.
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