Corruption trial brings Lotte patriarch, children back together
SEOUL: One of corporate South Korea’s most powerful families is set to be seen together for the first time in years today. The occasion: a trial of criminal charges against Lotte Group founder Shin Kyuk-ho and his three children.
The Seoul Central District Court is scheduled to begin the proceeding at 2pm after indicting the four in October on charges ranging from embezzlement to fiduciary breaches amounting to about 280 billion won (RM1.1 billion).
A Shin family reunion is rare because the 94-year-old father has ceded control of the business empire he built, while his two sons have been vying in a power struggle and daughter Shin Young-ja was sentenced to three years in prison in January for embezzlement and breach of trust.
Today’s trial will be the first time all four face the court together to answer questions about whether they were involved in white-collar crime at a conglomerate that had revenue of US$81 billion