Shin Kyuk-ho, founder of Korean retail giant Lotte Group, testified at a Seoul court Wednesday to demonstrate his mental status, marking a new twist in the bitter feud over control of the group. Shin Kyuk-ho, founder of Korean retail giant Lotte Group, walks into a court room at Seoul Family Court on Wednesday. (Yonhap)The 93-year-old Lotte founder walked into a court room at the Seoul Family Court and told judges that his ability to make judgement is the same as in his 50s, his lawyer told repo

Lotte Group founder and general chairman Shin Kyuk-ho filed a lawsuit against the CEOs of seven Lotte subsidiaries on charges of obstructing business, according to a law firm representing Shin on Monday. The law firm DW Partners said it lodged a complaint against Lotte Shopping CEO Lee Won-joon and Lotte Corporation’s Noh Byung-yon for underreporting capital losses for their business in China, which disrupted the founder’s ability to make operational decisions. In the complaint filed with the Se

Lotte Group chairman Shin Dong-bin met with executives of several start-up companies to discuss measures to support them, the firm said Wednesday. It is a part of follow-up steps after Lotte announced its plan to set up an investment corporation, named “Lotte Accelerator,” designed to help young people start their own business in October. Shin offered 10 billion won ($8.7 million) from his personal fortune to set up the investment firm.  According to the company, some 300 people, including 30 st

　Faced with changing priorities, a growing number of people around the world are focusing on their health more than ever before as they seek to take on more nutritious diets and healthier lifestyles.　In South Korea, where such considerations reign high, the face of the yogurt industry is quickly changing to meet the demands of health-conscious consumers, following similar trends elsewhere in the world, including the United States and Europe.If yogurt varieties were limited to simply “plain,” a f

Lotte Group on Wednesday unveiled some glam factors to its proposed urban duty-free shop sites at the Lotte World Mall and the 123-story Lotte World Tower in Jamsil, southeastern Seoul. “I can confirm that the name of the upscale hotel situated from 76-101th floor of Lotte World Tower is Signiel, to go along with Lotte’s premium department store brand Avenuel. The name of the top-notch condominiums for the superrich to be located on the 44th-71st floors will be the Signiel residence,” said Noh B

Lotte Group chairman Shin Dong-binYonhap SDJ Corporation chairman Shin Dong-jooYonhap Lotte Group founder Shin Kyuk-hoYonhapMonday marked the 100th day of the internal feud at Lotte Group’s founding Shin family. And yes, by now we are sick and tired of the story where the eldest son and the father are attacking the second for dethroning them from the helm.But with their dispute now in court ― former Lotte Holdings vice chairman Shin Dong-joo filed an injunction against Lotte Shopping management

The number of holding companies in South Korea increased over the past year, keeping its upward trend since the government introduced the system in the late 1990s, the antitrust watchdog said Thursday.As of end-September, the number of holding companies reached 140, up from the previous year's 132, according to a report by the Fair Trade Commission.A holding company refers to a corporation that owns voting stock in another company or its affiliate and can influence management. Holding firms usua

Lotte Group chairman Shin Dong-bin will offer 10 billion won ($9 million) from his personal fortune to set up an investment corporation designed to help young people start their own businesses, the company said Monday. The firm tentatively named “Lotte Accelerator” will support early-stage companies by providing direct investment and helping them sell their products and services through Lotte’s distribution channels as well as offering business consulting.“With Lotte Accelerator as the central p

SDJ Corporation chairman Shin Dong-joo on Thursday rebutted Lotte Group chairman Shin Dong-bin’s claim that he had inflicted billions of won in damages to Lotte while he served as the vice chairman of Lotte Holdings in Japan. The eldest son of Lotte founder Shin Kyuk-ho and his younger brother Shin Dong-bin have been locking horns over the helm of the 90 trillion-won ($79 billion) Lotte Group for over three months, and their battle has recently evolved into a blame game. While Shin Dong-joo and

 The two sons of the Lotte Group founder once again clashed over control of the main office of their father, Lotte general chairman Shin Kyuk-ho, Tuesday, as a bitter fraternal battle over ownership of the South Korean retail giant continues to escalate.　Lotte Group, led by younger son Shin Dong-bin, demanded that SDJ Corporation, a company established and led by older son and former vice chairman of Lotte Holdings Shin Dong-joo, step out of the general chairman’s office, located on the 34th flo

　Lotte Group has officially rejected the request of former vice chairman of Lotte Holdings Shin Dong-joo to begin sending him business reports on its core affiliates, dismissing the move as “lacking legal grounds.”　The elder son of the group founder is engaged in a bitter feud with his younger brother, Lotte Group chairman Dong-bin, over control of the group since he was ousted from key posts at its Japanese units in January.  Lotte Group founder and general chairman Shin Kyuk-ho (left) and his

　Lotte Chemical, the petrochemicals manufacturing unit of South Korea’s Lotte Group, is seeking to expand its global business as production begins at its newly-established gas field and chemical complex in Surgil, Uzbekistan.　“Based on our success in Uzbekistan, we will continue to expand our ongoing businesses at home and abroad to rise up as a global petrochemicals company,” said Lotte Chemical CEO Huh Soo-young at a news conference in Seoul Thursday to mark the completion of the new plant.Lot

Lotte Group chairman Shin Dong-bin on Wednesday was evicted from his executive position at Kojyunsya -- the virtual holding company of Lotte Group in Korea and Japan -- which could deal a blow to his plans of being the sole leader of the 90 trillion won ($78 billion) business enterprise. He was replaced by Tetsu Isobe as a new board director, while his elder brother SDJ Corporation chairman Shin Dong-joo was appointed representative director of Kojyunsya at the five-member shareholders meeting i

Lotte Group chairman Shin Dong-bin speaks during a news conference at Lotte Duty Free’s logistics center in Incheon on Monday. Lotte GroupLotte Group chairman Shin Dong-bin on Monday slammed his father and elder brother for dragging him into another family spat over the company’s management and putting the 90 trillion won ($79 billion) business empire in danger.“Let me tell you one thing about what happened over the weekend,” the chairman said in a news conference at Lotte Duty Free Store’s logi

Lotte Group general chairman Shin Kyuk-ho on Sunday declared a legal war against his second son and Lotte chairman Shin Dong-bin over the succession of the nation’s retail giant.Lotte Group general chairman Shin Kyuk-hoLotte chairman Shin Dong-binThe senior Shin also showed his intention to transfer the helm of the 90 trillion won-business empire to his eldest son Shin Dong-joo, who was dismissed from all managerial positions of the conglomerate that encompasses Asia and the U.S. after losing th