April 27, 2024

• 

[THE INVESTOR] Yuwon Industry, owned by Lotte Group’s founder Shin Kyuk-ho’s third wife Seo Mi-kyung and their daughter Shin Yu-mi, has sold its entire 0.01 percent stake in Lotte Shopping, the affiliate announced on Jan. 20 in a regulatory filing.

Yuwon Industry sold 3,000 shares of the Lotte affiliate on Dec. 28-29.
The firm, privately owned by Shin’s common-law wife, has been accused of monopolizing Lotte Cinema’s snack bars. 

Seo and her daughter are being investigated on tax evasion charges for receiving 6.8 percent of Lotte Holding’s stake, the largest among family members and estimated to be worth over 700 billion won (US$595.24 million), from Shin. Both have not made an appearance and are said to be residing in Japan.

By Hwang You-mee (glamazon@heraldcorp.com)