News / South Korea's ambitious Lotte Global Logistics set for IPO

Lotte Global’s Vietnam facility ceremony. Photo: Korea Ocean Business Corp

With demand for logistics services expected to grow, South Korean 3PL Lotte Global Logistics is planning a $137m IPO on the Korea Exchange, to raise funds for expansion.

Part of the Lotte Corp chaebol, the logistics firm submitted a prospectus to the Financial Services Commission on Monday, with Korea Investment & Securities and Samsung Securities acting as lead underwriters for the listing.

Lotte Global is offering 14,944,322 shares, and the desired public offering price is set between KRW11,500 ($7.85) and KRW13,500 ($9.21) per share, a potential $137m, based on the upper limit of the public offering price band.

The operator will conduct a demand forecast for institutional investors from 24-30 April, and retail investors can apply for the stocks from 12 May.

Lotte Global handles approximately 500 million shipments a year and is continuing to grow in the global market through forwarding, intermodal transport, port operations, and cross-border e-commerce. Last year, net profit more than doubled from 2023, to $27.53m.

It operates a global distribution centre at Incheon International Airport and in Hong Kong and plans to strengthen its Asian logistics network by building similar facilities in Busanand Singapore ports.

The company’s fundraising move comes just days after it broke ground on a new cold chain facility in Vietnam’s Nhon Trach VI Industrial Park in Dong Nai province, near Ho Chi Minh City. Occupying 55,550 sq metres, it will open in May 2026.

Vietnam’s cold chain market is experiencing rapid growth, driven by increasing demand for perishables and e-commerce, with a forecast to reach $295m this year.

Nhon Trach VI Industrial Park is connected to major transportation networks such as Cat Lai and Cai Mep ports, and Long Thanh International Airport, and is expected to help South Korean perishable producers enter the Vietnamese market.