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SEOUL, South Korea (AFP) — The chairman of South Korean retail giant Lotte Group was released from jail on Friday after an appeals court suspended four years his sentence in a massive corruption scandal that brought down former president Park Geun-hye. Shin Dong-bin, 63, was jailed for 30 months in February for providing seven billion won ($6.2 million) to a foundation controlled by Park’s secret confidante in return for state favours regarding Lotte’s duty-free […]
(AFP) — South Korean prosecutors on Monday charged the chairman of retail giant Lotte in connection with the corruption scandal that brought down former president Park Geun-Hye. Shin Dong-Bin is accused of using more than $6 million to bribe Park and her secret confidante Choi Soon-Sil, the prosecutors said on the same day they charged Park with bribery and abuse of power. Shin, 62, allegedly offered seven billion won ($6.15 million) to a sports foundation […]
SEOUL, South Korea (Reuters) — South Korea’s Lotte Group will continue to invest in its China business despite diplomatic tensions over the deployment of a United States missile defense system, a Lotte’s top executive, Hwang Kag-gyu, said on Monday (April 3), denying rumors it wants to scale back its China operations. Chinese authorities last month closed dozens of Lotte retail stores following inspections, ramping up pressure on South Korea’s fifth-largest family-run conglomerate after it agreed to provide […]
