Lotte Group's restructuring plan seen boosting chairman's control

Seoul

SOUTH Korea's Lotte Group said it is setting up a holding company by restructuring the conglomerate's four listed units to boost operational transparency, a move analysts say could enhance its chairman's control amid a power struggle with his brother.

The country's fifth-biggest conglomerate has been under pressure to resolve its complex structure and improve governance after a public feud between founding family members that began in 2015 and has pitted chairman Shin Dong-bin against elder brother Shin Dong-joo.