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 [...]

Prosecutors Seek Warrant to Arrest Lotte Group Chairman over Corruption

Prosecutors Seek Warrant to Arrest Lotte Group Chairman over Corruption

SEOUL, Sept. 26 (Korea Bizwire) – A warrant is being sought to formally arrest the chief of the embattled South Korean retail giant Lotte, prosecutors said Monday, as the high-profile corruption probe into the country’s fifth-largest conglomerate nears its conclusion.  The Seoul Central District Prosecutors’ Office submitted the request to a local court to detain [...]

Lotte Group Chairman Summoned over Corruption Allegations

Lotte Group Chairman Summoned over Corruption Allegations

SEOUL, Sept. 20 (Korea Bizwire) – Shin Dong-bin, the chief of the embattled South Korean retail giant Lotte, was summoned by state prosecutors Tuesday as the high-profile corruption probe into the country’s fifth-largest conglomerate neared its conclusion.  The 61-year-old business tycoon appeared before the Seoul Central District Prosecutors’ Office as a suspect on a string [...]

Lotte Chief Vows to Improve Corporate Governance

Lotte Chief Vows to Improve Corporate Governance

SEOUL, Sept. 17 (Korea Bizwire) — The chief of South Korean retail giant Lotte Group pledged Thursday to untangle a cobweb of cross-shareholding among its affiliates and speed up the listing process of its hotel unit. Testifying before a parliamentary committee, Shin Dong-bin also ruled out the possibility that Lotte, the fifth-largest family-run conglomerate in [...]

Hotel Lotte’s Planned IPO Heats Up Market, More Await

Hotel Lotte’s Planned IPO Heats Up Market, More Await

SEOUL, Aug. 28 (Korea Bizwire) — South Korean retail giant Lotte Group is set to list its hotel and duty free operator Hotel Lotte, a hidden jewel owned by Japanese shareholders, taking the first critical step to untangling its murky governance structure following a bitter family feud over control of the conglomerate. Local brokerage houses [...]