Lotte E&C Signs MOU on Development of Real Estate Projects with Mirae Asset Securities

Lotte E&C President Hah Suk-joo and Mirae Asset Securities Chairman & CEO Choi Hyun-man attend a ceremony to sign an MOU on real estate development projects at Four Seasons Hotel in Jongno-gu, Seoul, on Jan. 26. (Photos: Lotte E&C)

Lotte E&C has struck an MOU on real estate development projects with Mirae Asset Securities at Four Seasons Hotel in Jongno-gu, Seoul.

Lotte E&C President Hah Suk-joo and Mirae Asset Securities Chairman & CEO Choi Hyun-man participated in a contract signing ceremony that took place on Jan. 26.

Mirae Asset Securities is the sole Korean financial investment company to surpass 10 trillion won in owned capital.

The company is aggressively participating in all whole stages of real estate development projects, including exploring of new investment opportunities, on top of simple financial support.

Under the deal, the two companies will establish investment incorporated entities through joint equity investment as strategic partners of real estate development projects and explore new real estate development projects on the global market on top of the domestic market.

Lotte E&C will be responsible for the establishment of business plans of projects, reviewing of designs, construction and construction supervision while Mirae Asset Securities.

Lee Jae-young, head of the Technology & Electric Division with Lotte E&C and Director Han Ik-won in charge of safety management at Korea Elevator Safety Agency (KoELSA) pose after they signed an MOU on the implementation of ESG management and the prevention of serious disasters) at KoELSA headquarters in Jinju, Gyeongsangnam-do, on April 5.

Lotte E&C Strikes MOU on Implementation of ESG Management with KoELSA

Lotte E&C signed an MOU on the implementation of ESG management and the prevention of serious disasters with Korea Elevator Safety Agency (KoELSA) at KoELSA headquarters in Jinju, Gyeongsangnam-do, on April 5.

KoELSA is a public entity charged with elevator inspection, certification and survey/research, which is under the umbrella of the Ministry of the Interior and Safety.

Under the agreement, Lotte E&C and KoELSA have introduced an elevator quality safety diagnosis system designed to inspect 11 categories, including noise, dust, and suitability of specifications.

Lotte E&C plans to conduct safety inspection into high-risk work while installing elevators and ramp up the quality of the elevator sector with KoELSA’s provision of expertise manpower.

KoELSA also plans to implement the nation’s first pilot project to introduce an elevator energy efficiency grade system with Lotte E&C. Elevators with lower energy efficiency have been supplied so far without elevator energy efficiency grade system.

If the grading system is introduced, it will not only encourage the use of elevators of higher energy efficiency by grading efficiency of elevators, but also contributing to realizing carbon neutrality.

Lotte E&C and KoELSA also plans to expand the use of elevator’s regenerative power device, designed to reduce energy consumption by recycling the electricity generated by the generating of motors when the elevator moves up and go down.

A Lotte E&C official with the electric generation sector said, “Through the MOU with KoELSA, Lotte E&C will not only secure the safety of elevator users by improving the quality of elevators but also spearhead carbon neutrality.”

Lotte E&C plans to create synergetic effects through aggressive collaboration and implement the expansion of ESG management, the official said.