이 누리집은 대한민국 공식 전자정부 누리집입니다.
Biz News Korea(Eng)
Lotte Group chief vows reform and investment of $35 billion over next five years
- Collected
- 2016.10.26
- Distributed
- 2016.10.27
- Source
- Go Direct
“I sincerely apologize to our customers, staff, and partner companies for causing concern and damage from the prosecution probe that followed (sibling) conflict over management rights,” Shin said in a press conference in Seoul, bowing deeply together with chief executives of 23 Lotte companies.
It is his second public apology since August 2015 after public scuffle with his elder brother over succeeding his father Shin Kyuk-ho, founder of Lotte empire whose business spreads across Korea and Japan.
Lotte has come under a rare all-out prosecution probe that stretched to most of the Shin family and Lotte units in Korea, exposing shrouded business ways of a family-run conglomerate.
Shin pledged to establish a committee with outside experts to ensure compliance with domestic regulations and turn 10,000 temporary jobs to permanent ones over the next three years. His reform plan also included improving corporate governance by listing Hotel Lotte, pursuing qualitative growth, streamlining the group’s policy headquarters and strengthening affiliates’ authority in management.
“We will eliminate complex cross-shareholdings and adopt a holding company system as soon as possible” in order to have a more transparent governance structure, he said.
By Sohn Il-seon
[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]