Lotte Group founder Shin Kyuk-ho, who started manufacturing chewing gum in 1948 ...
Lotte Group Founder Shin Kyuk-ho arrives for a trial at a court in Seoul, South Korea, March 20, 2017. REUTERS/Kim Hong-Ji
He was the last of the South Korean entrepreneurs who founded the country’s major chaebols, or family-run conglomerates, that now dominate Asia’s fourth-largest economy. In 2017, Lotte also became the biggest corporate casualty of South Korea’s diplomatic row with China over Seoul’s decision to deploy a U.S. anti-missile system to counter North Korean threat. Lotte, which offered land for the system, saw most of its supermarkets suspended by Chinese authorities, and eventually pulled out of the operations.
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