Shin Gyeok-ho and Shin Chun-ho, who were not reconciled in their lifetime… Lotte and Nongshim Half-century Sediment Puna

Sending time2021-03-28 17:11

Beom Lotte gathers at Shin Chun-ho’s vacant place… Condolences to Vice Chairman of Lotte Shin Dong-bin Harmony and Song Yong-deok next to Yeongjeong

Interest in reconciliation mood amid full-fledged management of the second generation of the two groups

(Seoul = Yonhap News) Reporter Lee Tae-soo = On the 27th, as the founder of Nongshim, Chairman Shin Chun-ho passed away, attention is focused on whether the old sediment of the Nongshim family and the Lotte family, which has been continuing for more than half a century, will be resolved.

According to the business world on the 28th, the conflict between the two companies dates back to 1965, 56 years ago.

In 1965, Chairman Shin Chun-ho became independent by establishing Lotte Industrial, a ramen company, after having a conflict with his brother Gyeong-ho Shin, chairman of Lotte Group, over the promotion of the ramen business. Then, when Chairman Gyeok-ho Shin was not allowed to use the Lotte company name, he changed the company name to Nongshim in 1978 and broke up with Lotte.

Since then, the two brothers have been stubborn for more than half a century, ending traffic and not participating in family gatherings. In January last year, Chairman Gyeok-ho Shin passed away, and Chairman Chun-ho Shin also entered Yeong-myeon the day before, so the brothers could not reconcile in their lifetime.

At the time of the death of Chairman Gyeok-ho Shin in January of last year, the condolences of Chairman Shin Chun-ho attracted public attention, but he did not appear in his brother’s criticism in the end. Instead, the eldest son, Dong-won Shin, Vice Chairman of Nongshim, condoled.

As the members of Beom Lotte gathered in the vacant place of Chairman Shin Chun-ho prepared in Seoul National University Hospital, the business world raised expectations that the two families would be reconciling.

Lotte Group Chairman Shin Dong-bin and SDJ Corporation Chairman Shin Dong-ju, who are known to be currently staying in Japan, exchanged condolences in harmony. Chairman Dong-bin Shin’s harmony was settled next to the deceased’s young jeong. The harmony of the name of “All of the Lotte employees” arrived, and it drew attention as it was placed on the outside of the poor.

The deceased’s younger brother, Chairman Shin Joon-ho, Purmil, and his nephew Choi Eun-young, chairman of Yoosu Holdings, and other members of the BeomLOTTE family visited one after another.

On the second day of the funeral,’Lotte Ga’s eldest daughter’ Shin Young-ja, former chairman of the Lotte Welfare Foundation, and Song Yong-deok, the vice chairman of Lotte Holdings, visited the place.

It was interpreted that Vice Chairman Song expressed condolences on behalf of Lotte Group on behalf of Chairman Shin, in a situation where it is practically impossible for Chairman Dong-bin Shin to return home because of self-isolation for two weeks.

Although the owner is not a member, Hwang Gak-gyu, former vice chairman of Lotte Holdings, also visited the poor and memorialized the deceased the day before.

As the two founders Gyeok-ho Shin and Chun-ho Shin passed away with a one-year gap, the second-generation management of both Lotte Group and Nongshim became an anchor in earnest.

The Lotte Group is led by Chairman Shin Dong-bin, who won the’Prince’s Orchid’ in 2015. Chairman Shin competed with his brother Dong-joo Shin for the management of the group at the time, and then took control of both Korea and Japan.

Unlike Lotte, Nong Shim was in a state where the eldest son, vice chairman Shin Dong-won, was identified as the successor.

This is because he became the CEO of Nongshim in 1997 and then promoted to Vice Chairman in 2000, and has been in charge of the management of Nongshim.

Vice Chairman Shin is the largest shareholder of Nongshim Holdings, the largest shareholder of Nongshim. As of the end of September last year, his share of Nongshim Holdings was 42.92%.

The other two sons of Chairman Shin Chun-ho, Dongyoon and Dongik, respectively, lead the company by serving as Vice Chairman of Yulchon Chemical and Vice Chairman of Mega Mart.

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2021/03/28 17:11 sent