Shin Dong-Joo – Billionaire

Shin Dong-Joo is the older son of Shin Kyuk-Ho, who founded Lotte as a confectionery manufacturer in Japan in 1948 and expanded into South Korea in 1967. Today, Lotte Group is South Korea’s largest retailer and has other interests ranging from food and beverages to chemicals, construction and professional baseball. In early 2015 Shin Dong-Joo was dismissed from his executive positions in the group. He had been overseeing Lotte’s Japanese affiliates, which comprise a significantly smaller share of the group’s assets than the Korean affiliates overseen by his brother, Shin Dong-Bin. The brothers had been embroiled in a bitter feud for control over the group.

Shin Dong-Joo is a South Korean businessman with an estimated net worth of $1.37 billion as of April 2016 according to Forbes. He is also the eighth richest person in Korea’s 50 Richest List and is ranked 792nd in the list of World Billionaires.

Mr. Shin Dong-Joo is the eldest son of Shin Kyuk-ho, the founder of Lotte Group. He is the current Vice Chairman of Lotte Holdings and the Vice President of Lotte Group in Japan. His brother, Shin Dong-Jin, is Chairman of the company that is best known for its sweets and ice cream production. The two owns identical 14.59% stakes in the department store arm, Lotte Shopping.

Source:

1. forbes

2. therichest