Lotte chief apologizes for family feud, vows governance reform
Aug 11, 2015
Shin Dong-bin, the head of the country's No. 5 conglomerate, apologized Tuesday over the group's much-criticized succession feud and pledged to make the retail giant's murky governance structure more transparent. Lotte is embroiled in a bitter family fight over control of the sprawling business empire, which has reignited sentiment against family-controlled conglomerates, known as chaebol here, and prompted an all-out government probe into the group. "This crisis happened as we failed to put