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Shin Dong-bin(Korean:신동빈;bornAkio Shigemitsu,14 February 1956) is a South Koreanbusiness executivecurrently serving as the chairman ofLotte Corporationsince 2011.
Shin Dong-bin | |
|---|---|
신동빈 | |
 Shin at the Asia Summit of World Travel & Tourism Council inSeoul,South Korea in September 2010 | |
| Born | Akio Shigemitsu 14 February 1956 |
| Citizenship |
|
| Education | |
| Occupation | Business executive |
| Title | Chairman ofLotte Group |
| Spouse |
Ogo Manami (m.1985) |
| Children | 3 |
| Parents |
|
| Relatives |
|
| Korean name | |
| Hangul | 신동빈 |
| Hanja | |
| Revised Romanization | Sin Dong-bin |
| McCune–Reischauer | Sin Tong-pin |
| Website | lotte.co.kr |
Early life and education
editBorn in Japan asAkio Shigemitsu(Trọng quang chiêu phu,Shigemitsu Akio).Shin is the second son ofShin Kyuk-ho(Takeo Shigemitsu), founder and first CEO of Lotte and his Japanese wife. He is the younger brother of Hiroyuki Shigemitsu (Korean name Shin Dong-ju), CEO of the Japanese Lotte Group.
Shin graduated fromAoyama Gakuin UniversityinTokyowith a B.A. in economics in 1977 and fromColumbia Universitywith an MBA.[2]
Career
editHe started his career atNomura Securities' London branch in 1980 and joined Lotte in 1988, when he started atLotte Chemical.
In 2011, he became Chairman of Lotte Korea. Upon taking control of the group, Shin embarked on a series ofmergers and acquisitions,including the acquisition ofHi-Mart(nowLotte Hi-Mart), Hyundai Logistics (nowLotte Global Logistics), The New York Palace Hotel (nowLotte New York Palace Hotel), and the chemical arm ofSamsung- Samsung Fine Chemicals and Samsung BP Chemicals.[3]
Legal issues and convictions
editOn 22 December 2017, a Seoul district court handed down to Shin a two-year suspension of a jail sentence withembezzlementand breach of trust in October 2016.[4]
On 13 February 2018, Shin was sentenced to 30 months in prison after the Seoul Central District Court found him guilty of charges stemming from Lotte's decision to give₩7 billion (US$6.5 million) toChoi Soon-sil,aconfidanteof formerPresident of South KoreaPark Geun-hye,in exchange for government favors in providing a license to operateduty-free shop.[5]On 5 October 2018, a South Korean appeals upheld Shin's conviction, but also agreed to suspend his sentence to time already served, thus setting him free.[6]
Other activities
editPhilanthropy
editShin sits on the Board of Overseers ofColumbia Business School.In 2013, he donated $4 million to the school to found the Shin Dong-bin fellowships.[7][8]A professional skier, Shin also serves as the Chairman of the Korean Ski Association and pledged 60 billion won to thePyeongChang Olympics.[9]
Personal life
editShin is married to a Japanese woman named Ogo Manami, who is of aristocratic descent.[3]The couple have three children, who all live in Japan.[3]Both his office and his residence are located inLotte World Tower,South Korea's tallest building.[10]
Shin was engaged in a number of disputes with his sibling, Shin Dong-ju, over the control ofLotteand gained control of the company after a long legal battle.[11][12]
References
edit- ^"Shin Dong-Bin Stole Lotte from Me": Founder- The Seoul Times
- ^Trọng quang chiêu phu ( tân đông bân ) の danh ngôn cách ngôn- danh ngôn DB: リーダーたちの danh ngôn retrieved 5 June 2014
- ^abc"The Investor".www.theinvestor.co.kr.Retrieved25 March2022.
- ^"Seoul court hands down suspended sentence for Lotte chairman".CNBC. Reuters. 22 December 2017.Retrieved27 December2017.
- ^"Korean Tycoon Jailed in Bribery Case That Toppled a President".Bloomberg. 13 February 2018.Retrieved13 February2018.
- ^"South Korea's appeals court suspends Lotte Group chief's jail sentence".
- ^School, Columbia Business (26 September 2013)."Dong-Bin Shin '81 Donates $4 Million to the School".Newsroom.Retrieved25 March2022.
{{cite web}}:|first=has generic name (help) - ^School, Columbia Business (26 November 2013)."Dong-Bin Shin Fellowships Now Available".Newsroom.Retrieved25 March2022.
{{cite web}}:|first=has generic name (help) - ^"Lotte Chairman Shin Dong-bin donates million for PyeongChang Olympics".The Dong-a Ilbo.Retrieved25 March2022.
- ^"Lotte chairman to shift to World Tower".www.theinvestor.co.kr.Retrieved25 March2022.
- ^Auto, Hermes (25 June 2016)."Lotte Chairman beats back brother's third attempt at ouster | The Straits Times".www.straitstimes.com.Retrieved25 March2022.
- ^Jun, Kwanwoo (21 February 2018)."Lotte Group Chairman Resigns From Its Japanese Holding Company".The Wall Street Journal.ISSN0099-9660.Retrieved25 March2022.