Lotte Group's founder Shin Kyuk-ho sued his son, Lotte Group's chief Shin Dong-bin, and two more executives for obstructing business and hiding property.
According to law firm DW, the founder Shin submitted a complaint against Shin Dong-bin, Lotte Japan Holdings chief Tsukuda Takayuki and Lotte Capital chief Kobayashi Masamoto to the prosecution in Seoul.
Shin Dong-bin took the chief position in July after being embroiled in fierce management struggles with his older brother Shin Dong-joo.
The founder said, "Tsukuda Takayuki repeatedly made false reports that Shin Dong-joo (founder’s first son) lost 9 billion won by wrongly investing in a subsidiary from August to December of last year."
"Tsukuda Takayuki and Kobayashi Masamoto asked me to tell the dismissal of Shin Dong-joo (in public), which made me not to deal with the work fairly," he added. Shin Dong-joo lost his titles from 26 companies including Lotte Holdings.
