SEOUL, Jan. 18 (Korea Bizwire) – A Seoul court on Thursday turned down the claim by the eldest son of the founder of South Korean retail giant Lotte Group that he was unfairly removed from the boards of two Lotte hotel units. Shin Dong-joo, former vice chairman of Japan-based Lotte Holdings and eldest son of Lotte founder Shin Kyuk-ho, filed litigation against Hotel Lotte and [...]
SEOUL, Dec. 9 (Korea Bizwire) – Lotte Confectionery Co., a unit of South Korean retail giant Lotte Group, said Wednesday that Lotte’s Japan operation will increase its stake in the affiliate, a move seen as part of efforts to cement the incumbent group chairman’s grip on the conglomerate amid a succession feud. In a regulatory [...]
“This crisis happened as we failed to put in many efforts to improve our governance structure and bolster corporate transparency during the group’s growth. We will resolutely reform the agendas that have raised concerns among the people of Korea, the government, our shareholders, employees and contractors.” “I will push for the listing of Hotel Lotte, [...]