Younger son of founder strengthens his hold on Lotte Group
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Seoul
THE younger son of the Lotte Group's founding family has strengthened his hold on the South Korean conglomerate amid a bitter succession feud with his elder brother, winning the backing of shareholders at a key Tokyo-based holding company.
An extraordinary shareholders' meeting at unlisted Lotte Holdings approved a proposal calling for the company led by co-CEO Shin Dong Bin, the younger son of 92-year-old founder Shin Kyuk Ho, to establish a stable management structure and strengthen its corporate governance.
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