Founder of S. Korean retail giant Lotte dies at 97 0 SHARES Share it! Share TweetBy Agence France-PresseThe founder of South Korea’s sprawling retail conglomerate Lotte Group has died at the age of 97, company officials said Sunday. The business later grew to include dozens of subsidiaries in the food, retail and hotel industries. Lotte is one of the biggest of the South Korean family-run “chaebol” conglomerates that powered the country’s decades of runaway economic growth — but which are sometimes accused of murky business practices and overly-close ties with politicians. He had been suffering from dementia and other diseases of old age before his death, according to South Korea’s Yonhap news agency.

Source: Manila Bulletin January 19, 2020 09:11 UTC