Shin Dong-bin
Seoul, South Korea
Bachelor of Arts/Science, Aoyama Gakuin University | Master of Business Administration, Columbia Business School
South Korea
Lotte Shopping
retail
$870,000,000
1941
#48 Korea's 50 Richest 2019
#1941 Billionaires 2019
Shin Dong-bin chairs the Lotte Group, South Korea's fifth largest conglomerate with interests in retail, chemicals, hotels and others. In February 2018, he was sentenced to 30 months in prison for a bribery case involving former president Park Geun-hye, who is now in jail. Shin was convicted of transferring $6.5 million to Choi Soon-sil, a confidante of Park, to win approval for duty-free shops. He pleaded not guilty.Shin Dong-bin is the younger son of Shin Kyuk-ho, who founded Lotte as a confectionery manufacturer in Japan in 1948. In October 2018 his sentence was suspended for four years.
In 2011, he became embroiled in a bitter feud with his older brother, Shin Dong-Joo, for control of the group, a battle he won in 2016.Lotte started in post-war Japan with chewing gum as one of its first products. Today it is South Korea's largest retailer.
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