Family feud-riven S Korean retail giant vows reform

Seoul

THE head of South Korea's Lotte Group on Tuesday vowed a new era of corporate governance and transparency as he apologised for the family feud engulfing the beleaguered retail giant.

In an address broadcast live on television, group chairman Shin Dong-Bin also sought to deflect growing anti-Japanese sentiment surrounding Lotte, which was founded in Japan but does 80 per cent of its business in South Korea.