Lotte Group a family affair

One of the biggest Korean jaebeol, Lotte Group maintains close ties to Shin Kyuk-ho’s children.

His eldest son, Shin Dong-ju, 54, is vice president of Lotte Co. in Japan. Currently, Shin Kyuk-ho is the chairman of both Lotte Co. in Japan and Lotte Group in Korea.

The two groups do not have affiliate ties. Shin started Lotte Co. in Japan in 1948.

In 1967, Shin went on to found Lotte Confectionery Co. in Korea.

Shin’s second son, Shin Dong-bin is the vice chairman of the Lotte Group in Korea and expected by many to be the next group chairman.

Shin Kyuk-ho’s daughter, Shin Young-ja, 66, was appointed as Lotte Shopping president in April, after becoming vice president of Lotte Shopping, one of Lotte’s three core businesses (retail, food and petrochemicals), in 1997.

Shin Kyuk-ho’s cousin, Shin Dong-in, is president of the Lotte Giants, a baseball team and an affiliate of the Lotte Group in Korea.

Then there are those who are related but not in the family business. Kim Gi-hyeong, Shin Kyuk-ho’s brother-in-law, heads travel agency Lotte Tour.

Although this company has Lotte in its name, it is not a Lotte Group subsidiary.

Also, Shin Joon-ho, Shin Kyuk-ho’s younger brother, is chairman of Lotte Milk.

Lotte Milk was a part of Lotte Ham and Milk but the company divided last year into Lotte Ham and Lotte Milk. Although Lotte Ham is a subsidiary of the Lotte Group in Korea, Lotte Milk is not.

By Cho Jae-eun Staff Reporter [jainnie@joongang.co.kr]