(MENAFN) According to Lotte Corp, authorities have approved a huge property development in China to establish a second phase of construction.
A spokesman from Lotte said the approval to establish commercial complexes at its Chengdu land project of 1t won, was made on Oct.31, which is the same day the Beijing and Seoul decaled to restore relations.
An analyst at Eugene Investment & Securities said: "Investors are hoping that from 2017 earnings will improve drastically as relations between South Korea and China get better and Chengdu is one piece of news that is adding to that."
However, the spokesman for Lotte Corp said construction at Shenyang project of Lotte is still suspended.
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