SEOUL, Jan 19 — Lotte Group founder Shin Kyuk-ho, who started manufacturing chewing gum in 1948 in Japan and built the business into South Korea’s No.5 conglomerate with interests ranging from retail to chemicals, died today, the company said. He was 98. He was the last of the South Korean...
Lotte Group founder Shin Kyuk-ho arrives for a trial at a court in Seoul March 20, 2017. — Reuters pic
He was the last of the South Korean entrepreneurs who founded the country’s major chaebols, or family-run conglomerates, that now dominate Asia’s fourth-largest economy. In 2017, Lotte also became the biggest corporate casualty of South Korea’s diplomatic row with China over Seoul’s decision to deploy a US anti-missile system to counter North Korean threat. Lotte, which offered land for the system, saw most of its supermarkets suspended by Chinese authorities, and eventually pulled out of the operations.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Founder of S. Korean retail giant Lotte dies at 97NSTworld: Shin Kyuk-ho’s reputation was tarnished in his final years when the wheelchair-bound tycoon was convicted of professional malpractice and embezzling from the firm to benefit his relatives in late 2017.
Read more »
Founder of S. Korean retail giant Lotte dies at 97Shin Kyuk-ho was convicted of professional malpractice, embezzling from firm to benefit relatives. FMTNews SouthKorea Lotte
Read more »
Founder of South Korea’s Lotte business dynasty dies at 97SEOUL: Shin Kyuk-ho, a wartime migrant to Japan who returned home to build a little-known chewing-gum maker into Lotte Group, South Korea’s biggest retailer, has died. He was 97.
Read more »
A Swiss restaurant, its Korean flavour, and its M'sian homeKUALA LUMPUR: AS a youth, Manfred J. Faehndrich cherished doing mandatory service with the Swiss army and as a United Nations peacekeeper.
Read more »
Heavy snow hampers search for missing S. Korean, Nepal trekkersKATHMANDU, Nepal: Heavy snow and poor visibility hampered the search Sunday for four South Koreans and three Nepalis caught in an avalanche in the popular Annapurna region of the Himalayas, officials said.
Read more »
S. Korean, Nepal trekkers trapped after Himalaya avalancheHelicopters have been sent out to rescue about 200 people stranded around Annapurna. FMTNews
Read more »