Shin Kyuk-ho, Founder of Lotte Group Dies at Age 97 Leaves 95 Business Units

News24xx.com - Good news comes from Korea. Shin Kyuk-ho who is famous as the founder of Lotte Group died at the age of 97 years.

Reporting from Bloomberg, Sunday (19 January 2020), Shin exhaled the last breath today at 16:29 local time. During this time, he is known to fight against various age-related diseases that continue to age.

He was reportedly born in Ulsan, South Korea, Shin migrated to Japan during the war in 1941. In Japan, Shin was known as Takeo Shigemitsu and opened a rice cooker manufacturing plant in the country in 1942.

Upon returning to Korea, Shin joined a group of Korean business people who worked closely with the government to rebuild Korea that was destroyed by the war. Business-government collaboration encouraged massive industrialization in the State of Ginseng in the 1960s.

Lotte Group, which Shin founded is now the fifth largest conglomerate in Korea. Its business network covers supermarkets to petrochemicals. The total company under Lotte is estimated at 95 business units.

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