S.Korea's Lotte Shopping says to inject $192 million for China business

SEOUL, March 24 (Reuters) - South Korea's Lotte Shopping Co

Ltd said on Friday it will inject $192 million into

an Hong Kong affiliate via a rights issue to infuse funds into

its China operations.

The retailer said in a regulatory filing that the injection

is to raise funds for its hypermarket and supermarket business

in China "for smooth business."

This month, Chinese authorities closed dozens of retail

stores of South Korea's Lotte Group following inspections,

ramping up pressure on the conglomerate amid a diplomatic


(Reporting by Joyce Lee; Editing by Kim Coghill)