This article was displayed on the ChosunBiz MoneyMove (MM) site at 3:04 p.m. on Apr. 10, 2026.
Lotte Chemical affiliate Lotte Ecowall, a corporations specializing in architectural exteriors and curtain wall construction, has been put up for sale. The sale price is estimated at between 150 billion won and 200 billion won.
According to the investment banking (IB) industry on the 10th, Lotte Energy Materials (formerly Iljin Materials), a subsidiary of Lotte Chemical, is pushing to sell control of Lotte Ecowall. The assets for sale are 100% equity in Lotte Ecowall held by Lotte Energy Materials.
Lotte Ecowall is an architectural exterior company established in 1988. It was the first in Korea to introduce the curtain wall method (a method in which a building's load is supported by columns instead of walls and the exterior wall is wrapped like a curtain). Dongdaemun Design Plaza (DDP), Seoul City Hall, and the building of The Federation of Korean Industries (FKI) are representative construction cases.
Lotte Ecowall's sales last year were about 134 billion won, and earnings before interest, taxes, depreciation and amortization (EBITDA) were 13.86 billion won. Applying an EV/EBITDA multiple of 8 to 10 times for similar corporations, the price comes to 150 billion won to 200 billion won, industry officials analyze.
Lotte Chemical is currently streamlining noncore businesses within the group in stages. It is also said to be pushing a plan to sell the engineered stone business unit for about 300 billion won, in addition to Lotte Ecowall.
Lotte Ecowall is assessed to have strong financial soundness. As of the end of last year, current assets (assets that can be cashed within a year) were 67.1 billion won, and current liabilities (liabilities to be repaid within a year) were only 33.5 billion won. Its debt ratio is 71%, and it has no borrowings from the financial sector such as bank loans or corporate bonds. It is evaluated as maintaining stable cash generation capacity despite the construction industry's overall liquidity crisis, including rising cost ratios.