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

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Published Wed, Apr 26, 2017 · 09:50 PM

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    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.

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