Son demotes father in battle for control of South Korean retail conglomerate

August 3, 2015 8:14 AM

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SEOUL, South Korea – A family battle for control of South Korea's largest retailer has erupted in public after the group's 92-year-old founder was demoted to a powerless role in the business by his youngest son.

Shin Dong-bin, 60, has been trying to solidify his control of Lotte group, which has businesses in South Korea and Japan, in the face of opposition from his older brother Shin Dong-joo, 61, and his father Shin Kyuk-ho, 92.

Also read: Lotte Chairman, Family Members Charged With Embezzlement, Tax Evasion

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