Lotte said that prosecutors have decided not to press charges against CEOs of seven Lotte affiliates who were accused of obstructing business by SDJ Corporation, a company that Shin Dong-joo, the elder son of the Lotte group founder, created to take legal action against his brother, Dong-bin.
In November 2015, SDJ Corporation sued CEOs of seven Lotte affiliates for obstruction of business.
SDJ argued that they committed obstruction of business by not reporting to Lotte Group founder Shin Kyuk-ho. However, prosecutors concluded that they did not commit obstruction of business because their attempts to report to Shin Kyuk-ho were foiled by SDJ’s demand that SDJ should be present.
According to Lotte, prosecutors also decided not to bring charges against Lotte Group chairman Shin Dong-bin, Lotte Capital CEO Kobayashi Masamoto and Lotte Holdings CEO Takayuki Tsukuda, who were accused of obstruction of business and concealment of property by SDJ.
