What is the role of Shigemitsu Hatsuko in the fight over control of Lotte Group?
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What is the role of Shigemitsu Hatsuko in the fight over control of Lotte Group?
  • 김재영
  • 승인 2015.08.10 10:30
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shin Photograph: Shin Kyuk-ho, former general chairman of Lotte Group

 

Chairman Shin kyuk-ho married his first wife Noh Soon-hwa, who gave birth to Shin Young-ja, chairperson of the Lotte Foundation, in 1942. His Japanese wife, Shigemitsu Hatsuko, gave birth to Shin Dong-joo, the eldest son, former vice-chairman of Lotte Holdings, in 1954, and Shin Dong-bin, the second son, chairman of Lotte Group, in 1955. The two protagonists in this power struggle over the management rights of Lotte Group are the biological sons of Shigemitsu Hatsuko, Shin Kyuk-ho’s Japanese wife. The group’s founder had the youngest daughter, Shin Yoo-mi, from Seo Mi-kyung.

The two key players in this fight, Shin Dong-joo and Shin Dong-bin have the same mother. Shin Dong-joo stays in Japan with his mother, whereas Shin Dong-bin lives with his father in Korea. The conflict between the two sons is surfacing and public attention is drawn to its outcome because everyone is eager to know what role their mother played in the process. Lotte Group in Korea distributed additional reference materials about Lotte Holdings after distributing the official press release, which is quite unusual. Shin Kyuk-ho resigned from his general chairmanship under the pretext of lightening the burden of the founder so that people unrelated to management rights will not use the legal status of the general chairman, without authority.

After all, as Lotte Group explained, there is much room for interpretation as to who these people unrelated to management rights are. It may refer to Shin Dong-joo, or Shigemitsu Hatsuko, Shin Dong-bin’s biological mother who lives in Japan with Shin Dong-joo. Why in the world did chairman Shin Kyuk-ho, who cannot move very well due to old age, visit Japan in a chartered plane and fired the six directors of Lotte Holdings? Was it Shin Dong-joo who dragged the old general chairman out of his house to come to Japan? Or was it his wife, Shigemitsu Hatsuko, living in Japan? Also, how will she feel watching her sons fight over control of Lotte? Nothing is clear.

What repercussions will this power struggle have over “Lotte Group,” a leading conglomerate in Korea? Public attention is drawn to how it will be unfolded.


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