Lotte Data Communication Company, a unit of LOTTE Korea said on March 15, 2018, that it has sought approval from the country’s stock exchange for an initial public offering (IPO). The planned IPO is part of a pledge by Lotte Group to simplify its holding structure through IPOs, as well as via its formation of holding company Lotte Corp (004990.KS) in late 2017, Lotte Data said in a statement.