[Shin Kyuk-ho's Passing] Eldest Son Shin Dong-ju, Former Chairman, Briefly Visits Funeral Hall Then Leaves

Shin Dong-ju, former Vice Chairman of Japan Lotte Holdings, is leaving the funeral hall after paying respects at the funeral altar of Shin Kyuk-ho, Honorary Chairman of Lotte Group, set up at Seoul Asan Medical Center in Songpa-gu, Seoul, on the afternoon of the 19th. (Photo by Yonhap News)

[Asia Economy Reporter Seungjin Lee] Shin Dong-ju, the eldest son of the late Shin Kyuk-ho, Honorary Chairman of Lotte Group and former Vice Chairman of Japan Lotte Holdings (currently Chairman of SDJ Corporation), visited the funeral hall.

Former Vice Chairman Shin, along with his wife Jo Eun-joo, visited the funeral hall of Honorary Chairman Shin, set up at Seoul Asan Medical Center in Songpa-gu, Seoul, around 6 p.m. on the 19th, paid respects, and left after about 10 minutes. It is known that after hearing the news of Honorary Chairman Shin’s critical condition, former Vice Chairman Shin visited the hospital and stayed with family members including Shin Dong-bin, Chairman of Lotte Group, until the end.

The two, who had been estranged due to management disputes, reportedly reunited at the hospital after 1 year and 3 months since they last met during the second trial sentencing for the national corruption scandal and management irregularities involving Chairman Shin Dong-bin in October 2018.

It is reported that Hatsuko, the wife of Honorary Chairman Shin, stayed by his side from last week after hearing about his deteriorating health.

Currently, the funeral hall is being guarded by Shin Dong-bin, the second son of Honorary Chairman Shin and Chairman of Lotte Group.

Starting with former Vice Chairman Shin, a procession of condolences from affiliate company representatives and business circles continues. Park Jun, Vice Chairman of Nongshim, and Kim Nam-jung, Vice Chairman of Dongwon Group, also visited the funeral hall despite not having made official condolence visits yet.

Along with them, affiliate company representatives such as Min Myung-gi, CEO of Lotte Confectionery, and Kang Sung-hyun, CEO of Lotte Nestl?, hurried to the funeral hall. Business figures including So Jin-se, CEO of Kyochon F&B, have also been visiting.

Honorary Chairman Shin’s condition rapidly worsened on the night of the 18th, and he was admitted to the intensive care unit of Seoul Asan Medical Center, passing away at approximately 4:29 p.m. on the 19th. The funeral will be held as a group funeral.

The Lotte Group stated, "In accordance with the late chairman’s principle of 'Geohwachwisil' (去華就實, avoiding extravagance and pursuing practicality), we have decided to decline condolence money and floral tributes."