Shin Kyuk-ho

Shin Kyuk-ho (4 October 1921 – 19 January 2020), known in Japan as Takeo Shigemitsu,[2] was a Korean businessman known for being the founder of the South Korean conglomerate Lotte Corporation.[3]

This is a Korean name; the family name is Shin.
Shin Kyuk-ho
Shin Kyuk-ho (1964)
Born(1921-10-04)4 October 1921
Ulsan, Japanese Korea
Died19 January 2020(2020-01-19) (aged 98)
Seoul, South Korea
EducationWaseda Jitsugyo High school
OccupationBusinessman
Known forFounder of Lotte Corporation
Net worth270.5 billion ₩ (2016)[1]
Native names
Japanese name
Kanji重光 武雄
Korean name
Hangul
신격호
Hanja
辛格浩

Career

Shin was born in Ulsan, Korea in 1921. In 1941, he stowed away on a ship to Japan, where he studied chemical engineering at Waseda Jitsugyo High school. He adopted the Japanese name Takeo Shigemitsu and opened a rice cooker manufacturing plant in 1942.[2] After the plant was destroyed during an air raid, Shin founded Lotte in 1948, which grew from selling chewing gum to becoming a major multinational corporation.[4]

In 2006, Shin and his family were ranked 136th on Forbes magazine's list, "The World's Billionaires."[5] In 2009, Shin was ranked 38th on the magazine's list of South Korea's richest people.[6] Lotte itself was South Korea's fifth largest conglomerate as of 2017.[7]

In June 2017, Shin retired from his role as board director of Lotte Holdings Co. after holding the position for nearly 70 years.[8]

In December 2017, he was sentenced to four years in prison after he was convicted of embezzling 128.6 billion won (119 million USD) from Lotte. However, Shin was allowed to remain free given his poor health.[9]

Personal life

Shin had a total of four children from three marriages. His first wife, Noh Soon-hwa, died in 1949. They had one daughter, Shin Young-ja (born 1944).[10] Shin then married a Japanese woman, Hatsuko Shigemitsu, in 1952 under the common-law marriage system.[11][12] They had two sons, Shin Dong-joo (born 1954)[13] and Shin Dong-bin (born 1956).[14] Shin was also married to Seo Mi-Kyung in South Korea under the country's common-law marriage system.[15] They had one daughter, Shin Yu-mi (born 1982).[16] Because of this bigamic common-law marriage status, some regard Seo Mi-Kyung as a concubine of Shin Kyuk-ho.[17]Shin Dong-bin, second son of Shin Kyuk-ho and Hatsuko Shigemitsu, referred to Seo Mi-Kyung as "My father's girlfriend".[18]

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See also
  • Lotte

References
  1. "A look at 5 richest conglomerate families in South Korea". The Korea Herald. 23 December 2016. Retrieved 15 August 2018.
  2. "Lotte Group founder Shin Kyuk Ho's life from rags to riches to prison term". The Straits Times. 22 December 2017. Retrieved 15 August 2018.
  3. "신격호" [Shin Kyuk-ho]. Daum 100 (in Korean). Retrieved 15 August 2018.
  4. Schreiber, Mark (3 March 2018). "Anniversaries loom for gum producer Lotte and the Yoshiwara red-light district". Japan Times. ISSN 0447-5763. Retrieved 15 August 2018.
  5. "#136 Shin Kyuk-Ho & family". Forbes. 2006. Retrieved 15 August 2018.
  6. "#38 Shin Kyuk-Ho". Forbes. 29 April 2009. Retrieved 15 August 2018.
  7. "Lotte Hotel to open chain in Myanmar next month". Yonhap News Agency. 1 August 2017. Retrieved 15 August 2018.
  8. Kim, Hooyeon (24 June 2017). "Lotte Group Founder Shin Kyuk-ho Retires as Board Director at 94". Bloomberg. Retrieved 15 August 2018.
  9. "Jail for 95-year-old South Korean tycoon". BBC News. 22 December 2017. Retrieved 15 August 2018.
  10. Min, Byeong-ki; Park, Jun-u (7 July 2016). "신영자 이사장 영장심사때 대성통곡… '애끓는 모정'". Munhwa Ilbo. Retrieved 15 August 2018.
  11. Yu, Sin-jae (1 August 2015). "롯데, 시게미쓰 家門의 전쟁". The Hankyoreh (in Korean). Retrieved 15 August 2018.
  12. "신격호 롯데 총괄회장 부인 시게미쓰 하츠코 법률혼 아닌 사실혼 관계" [Lotte Chairman Shin Kyuk-ho in an informal relationship with Shigemitsu Hatsuko]. Seoul Shinmun (in Korean). 8 March 2016. Retrieved 20 January 2020.
  13. "신동주" [Shin Dong-joo]. Daum 100 (in Korean). Retrieved 15 August 2018.
  14. "신동빈" [Shin Dong-bin]. Daum 100 (in Korean). Retrieved 15 August 2018.
  15. "Lotte suspected of giving favors to founder's third wife". Yonhap News Agency. 17 June 2016. Retrieved 15 August 2018.
  16. Park, Ji-hyeon (29 August 2015). "롯데가 경영권 분쟁 속 '방배동 별당' 서미경·신유미 모녀는?". Women's Chosun (in Korean). Retrieved 15 August 2018.
  17. "중혼 불법인데 셋째 부인? '신격호와 사실혼' 서미경 호칭 논란" [Is it illegal to get married as the third wife? Controversy over Shin Kyuk-ho's 'informal wife']. Money Today (in Korean). 20 January 2020. Retrieved 20 January 2020.
  18. "'故 신격호' 빈소 30분 머문 서미경 누구? "임신 후 자취 감춰"" [Seo Mi-kyung, hidden after pregnancy, showed up for 30 minutes]. Segye Ilbo (in Korean). 20 January 2020. Retrieved 20 January 2020.
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