1. Lotte Group describes founder as ‘having difficulties in making judgments’

Lotte Group describes founder as ‘having difficulties in making judgments’

South Korea's Lotte Group described group founder Shin Kyuk-ho as "aged" and "having difficulties in judgment" as Lotte Group founding family members clashed this week for control of the conglomerate's holding company.

By: | Published: July 30, 2015 8:38 AM

South Korea’s Lotte Group described group founder Shin Kyuk-ho as “aged” and “having difficulties in judgment” as Lotte Group founding family members clashed this week for control of the conglomerate’s holding company.

“Former vice chairman Shin Dong-joo and some family members had arbitrarily taken the general chairman (founder) who is aged and having difficulties in movement and judgment, and induced verbal dismissals,” Lotte Group of Korea said in a statement.

Shin Dong-joo, the founder’s elder son who is battling with his younger brother for control of the holding company, said in an interview with the Nikkei business daily that his father had no problems in making management decisions.

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