Founder of South Korean retail giant Lotte dies


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Founder of South Korean retail giant Lotte dies

Shin Kyuk-ho, the founder of S. Korean retail giant, Lotte Corporation that started off its history back in the June of 1948 in Japan as a chewing gam manufacturer, but later expanded businesses in to South Korea in 1967 having a swathe of interest ranging from retail to consumer goods to chemicals, died on Sunday, the 19th of January 2020, the Lotte Corp.

said in a statement. Shin Kyuk-ho was 98. In point of fact, Shin Kyuk-ho, a consumer goods in manufacturer turned in to the owner of S. Korea’s fifth-largest conglomerate, had been the last of the S. Korea’s entrepreneurs involved in founding the far-east Asian nation’s economic nomenclature, while at the time of Lotte founder’s death, the family-run conglomerate has become a dominating force in the fourth-largest economy of Asia.

Besides, the Lotte Group, which owns the S. Korea’s tallest skyscraper, a 123-story mammoth in concrete, was founded as a chewing gum manufacturer in Japan by Shin as beforementioned, however, later Shin shifted his business in to S.

Korea under Japanese colonial rule and married a Japanese woman and the couple had two sons, who later transformed the Lotte Group in to a business empire. At present days, Shin Dong-bin, younger son of Shin has been at the charge of one of the world’s largest family-run conglomerates, the Lotte Corp.