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Lotte founder heads home as sons continue to fight for control

[THE INVESTOR] Lotte Group founder Shin Kyuk-ho on July 18 was discharged from a local hospital, some 40 days after he was hospitalized for minor fever. 

The elder Shin left Asan Medical Center and headed directly to his residence and office at the 34th floor of Hotel Lotte in Sogong-dong, central Seoul. 

All eyes are now on what kind of role he would play in the ongoing feud between his sons as they fight for control over Lotte Group. 

Lotte Group founder Shin Kyuk-ho
Lotte Group founder Shin Kyuk-ho

His eldest son Shin Dong-joo, former vice chairman of Lotte Holdings, was seen pushing his father’s wheelchair. The 93-year-old patriarch seemed to have lost some weight but he looked healthier than before he was hospitalized.

The senior Shin was admitted to the hospital on July 19 for minor fever following his recent treatment for prostatic infection. He was treated with antibiotics.

His hospitalization came as prosecutors were widening their probe into the nation’s fifth-largest conglomerate on suspicions of embezzlement and creating slush funds through dubious deals with affiliates and companies with links to the owner family. 

By Lee Ji-yoon (