POLITICS

First hearing on Lotte Group chief, family to begin

2017-03-19 13:07:02 GMT+8 952km to Beijing
Editor Huang Xinwei
The first hearing into a string of corporate crime allegations against the chief of South Korea’s retail giant Lotte Group, along with two of his family members, will be held by a Seoul court on Monday, Yonhap news agency reported on Sunday citing legal sources.
The first hearing to look at allegations against company chairman Shin Dong-bin, his older brother Shin Dong-joo, and their father and group founder Shin Kyuk-ho, is due to be held at the Seoul Central District Court on Monday at 2 p.m. local time.
After a four-month investigation, the three in October were indicted over allegations of embezzlement and breach of trust, for allegedly misappropriating some tens of billions of won of corporate assets, said Yonhap.
Last month, Lotte Group formally signed a land swap deal with the country’s military for the deployment of the Terminal High Altitude Area Defense (THAAD) system, causing uproar in both South Korea and China.
(L-R) SK Group Chairman Chey Tae-won, Samsung Group's Lee Jae-yong and Lotte Group Chairman Shin Dong-bin attend a parliamentary probe into the scandal surrounding former President Park Geun-hye in Seoul on December 6, 2016. /CFP Photo
South Korean prosecutors have started investigating domestic conglomerates Lotte Group and SK Group, after the de facto leader of the Samsung Group Lee Jae-yong was arrested for involvement in a corruption scandal that led to former President Park Geun-hye’s impeachment earlier this year.
Chey Tae-won, the chairman of the country’s third largest conglomerate SK Group, was questioned by prosecutors on Saturday.
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