Market Leader Posts Rising Revenue and Net Income, Group to Seek Other Investors Aiming to Close Deal This Year
A view of the Lotte Rent-a-Car Seoul Station branch. /Courtesy of Lotte Rental
Lotte Group said on May 18 that it would discontinue discussions with Affinity Equity Partners on the sale of its stake in Lotte Rental.
Lotte Group said it had continued consultations with Affinity Equity Partners after receiving the review result from the Fair Trade Commission, but determined that it would be difficult to proceed with the transaction any further because the two sides failed to reach a final agreement on overall matters related to the deal.
Lotte Rental, the No. 1 player in the domestic rental car market by market share, has a stable business foundation and a distinctive market position. Its 2025 revenue rose 4.5% from a year earlier to 2,918.8 billion won ($2.14 billion), while net income for the term increased 23.4% on-year to 126.7 billion won ($93.00 million), indicating continued improvement in profitability and financial indicators.
In particular, in the first quarter of 2026, revenue grew 6.6% from the same period of the previous year to a record 730.9 billion won ($536.53 million) for any first quarter, while net income for the term also rose 1.6% on-year to 30.3 billion won ($22.25 million).
The group said it expects the company’s value to continue rising as it strengthens competitiveness in its core business and as results from its used-car B2C business and new mobility businesses begin to materialize in earnest.
Lotte Group said it plans to hold stake-sale discussions with various potential investors, as Lotte Rental is currently drawing strong market interest based on its solid performance and strong growth potential. Taking into account market conditions and the company’s mid- to long-term growth strategy, among other factors, the group said it would push ahead with the sale with the aim of concluding it within the year.
Separately, Lotte Group said it plans to continue strengthening its financial soundness and advancing its business portfolio based on the recent trend of improving performance across the group. Alongside this, it said it would also make efforts toward business structure innovation based on selection and concentration.
Jung Min-hee
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