The chairman of Lotte Group was fined for not attending parliamentary audits over the company's alleged infringement on the business rights of small retailers.
Shin Dong-bin was sentenced to pay 10 million won ($8,870) in fines for refusing to comply with the government's call to appear at the hearings and audits of the National Assembly between October and November of last year, citing different reasons such as overseas business trips.
The audits were held as part of the government's drive to probe into large conglomerates' dominant power over struggling small retailers and traditional marketplaces in the retail sector.
Lotte Group is the country's fifth-largest family-controlled conglomerate whose businesses range from department stores and discount stores to hotels and fast-food restaurants as well as construction services.
In January, prosecutors asked for a summary indictment and sought 5 million won in fines against Shin as well as three other heads of the country's major retail giants -- Chung Yong-jin, the vice chairman of Shinsegae Group; Chung Yu-kyuang, the vice president of Shinsegae Department Store; and Chong Ji-sun, the chairman of Hyundai Department Store Co.
Rejecting the prosecution's request, the Seoul Central District Court ordered all of the four to stand trial.
Chung Yong-jin received a 15 million won fine, and Chung Yu-kyuang and Chong Ji-sun received a 10 million won fine for the same charge. (Yonhap News)
