Shin dong-bin Archives | Be Korea-savvy
Lotte in Disarray Over Its Head’s Possible Jail Term

Lotte in Disarray Over Its Head’s Possible Jail Term

SEOUL, Dec. 14 (Korea Bizwire) – South Korean retail giant Lotte is in disarray as its head is facing two possible jail terms in the coming weeks over bribery and other charges, industry watchers said Thursday. Lotte Group Chairman Shin Dong-bin is accused of giving 7 billion won (US$6.43 million) in bribes to a foundation run by ex-President Park Geun-hye’s friend Choi Soon-il as he sought favors in winning a government license [...]

Lotte CEO to Commute to and from Work in ‘Vertical City’

Lotte CEO to Commute to and from Work in ‘Vertical City’

SEOUL, Jul. 10 (Korea Bizwire) — The CEO of South Korean conglomerate Lotte Group is expected to move into Lotte World Tower in the coming months, shortening his commute to a mere elevator ride, materializing to commute to and from work in a ‘vertical city’ sort of. According to statement from Lotte released on Saturday, Shin [...]

Lotte Group Chairman Avoids Arrest over Corruption Allegations

Lotte Group Chairman Avoids Arrest over Corruption Allegations

SEOUL, Sept. 29 (Korea Bizwire) – The chief of the embattled South Korean retail giant Lotte avoided arrest Thursday as a Seoul court rejected a prosecutors’ request for a warrant to formally arrest him over embezzlement and breach of trust charges.  The Seoul Central District Court turned down the request, saying it’s difficult to recognize [...]