The 95-year-old founder of one of South Korea’s largest conglomerates was on Friday sentenced to four years in prison after a court found him guilty on dual corruption charges.
However, the court did not seek his arrest and incarceration due to his age and deteriorating health condition.
Shin Kyuk-ho, who in 1948 founded the Lotte Group – South Korea’s fifth biggest conglomerate – was convicted of embezzlement and breach of trust in a case that caps off a tumultuous year for one of South Korea’s most recognisable corporate brands.
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