After two generations of Shing-ho's father and son, the Lotte Group has risen to become one of the richest chaebols in Korea; However, the business empire created by Singer-Hao has continued to fight internally, and Singer-Hao's father and son are deeply involved in an actress scandal.
The two brothers Xin Dongju and Xin Dongbin are fighting for the rights of the group, how far can the former powerful business empire go?
Start from scratch and build a business empire
In 1921, Shin Geho was born in Tungi, Samnammyeon, Ulsan, Ulsan, Gyungnam, South Korea, and no one expected that this child would create a business empire in the future.
When Xin Gehao was still a poor guy, Xin Gehao married early and had children, and gave birth to his eldest daughter with his first wife at the age of 20.
In 1942, Singer was admitted to Waseda University in Japan, in order to maintain his studies, Singer Hao worked and studied in Japan, and after living in Japan for two years, an investor took a fancy to Singer Hao's business talent and lent him 50,000 yen to invest in the construction of a factory, and Singer Hao opened the first step of his business empire.
Of course, Singhho's business empire is inseparable from an important woman - Shigemitsu Hatsuko; Singer was his second wife.
After coming to Japan, Singer Hao was ambitious to make a career, and it was difficult to create a business empire with his own hands.
Singhko quickly climbed to the rich second generation Shigemitsu Hatsuko, the notorious Shigemitsu Aoi, who was covered Chinese in blood during World War II and was also a Class A war criminal, Shigemitsu Aoi served as Japan's foreign minister after the war and had a lot of influence in Japan.
Riding on the express train of Chongguang Chuzi, Xin Gehao not only has financial support, but also important network resources.
In 1948, Shin Gehao founded Lotte Co., Ltd., in order to marry Chongguang Hatsuko, Shin Gehao soon divorced his wife, and after marrying Chongguang Hatsuko, Chongguang Hatsuko gave birth to two sons for Shin Geho.
With Chongmitsu Hatsuko's network resources, Shin Gehao brought Rakuten Co., Ltd. into a well-known enterprise in Japan after 30 years of development.
In 1967, Lotte Group returned to Korea with his second son Shin Dongbin, and after 30 years of development, Lotte Group has become a world-renowned enterprise; As the tide rises, Singer-ho's worth has increased a hundredfold, becoming the fifth largest chaebol in South Korea.
Mired in scandal, Lotte is caught in a power struggle
Two generations of Singer-Hao spent half their lives developing Lotte Group into a Fortune 500 company, and Singer-ho should have become a generation of business legends, never thinking that he buried his life's reputation because of women, and Lotte Group fell into the vortex of the struggle for the rights of his brothers.
In 2009, the famous Korean actress Zhang Ziyan committed suicide at home to end her young life, and before her death, Zhang Ziyan left a long suicide note, in which Zhang Ziyan was exposed that she was forced to serve hundreds of times before her death.
In the list of Zhang Ziyan's forced service, Xin Gehao and Xin Dongbin's father and son were among them, at this time Xin Gehao was more than 80 years old, and Xin Dongbin was also more than 50 years old.
The image of Lotte Group was deeply hit by this incident, and the image of Singer-ho's father and son plummeted; What Xin Gehao did not expect was that at this time, the eldest son Xin Dongju made a move, and Xin Dongzhu tried to seize the rights of the Lotte Group.
At that time, Sin Gehao took Xin Dongbin back to South Korea to open up a new market, and the business empire created by Singhao in Japan was handed over to his eldest son Xin Dongju to manage.
After Lotte Group settled in South Korea, after years of development, its strength far exceeded that of Japanese industry, and in the face of such a huge business empire, Lord Shin Dong could not be moved.
In order to control the Lotte Group, Xin Dongju secretly acquired the shares of Lotte Group, and in 2014, Xin Dongju took advantage of the Zhang Ziyan incident to prepare to kick Xin Dongbin out of the power center in one fell swoop, and Xin Dongbin discovered the ambition of his brother Xin Dongju.
The so-called snake and seven inches, Xin Dongbin's appetite is greater than Xin Dongju, and Xin Dongbin and other shareholders kicked Xin Dongju out of the Japanese Lotte power circle, trying to swallow the entire Japanese Lotte in one gulp.
Xin Dong's aggressive posture touched the red line of Singhho, the business empire created by Singhho, Rakuten Japan, which is his base camp of origin, has long been handed over to the management of the eldest son Xin Dong, according to the tradition of the son inheriting his father's business, the eldest son Xin Dong is the heir to Japan Rakuten in his heart.
In order to compete for financial rights, Xin Dongju and Xin Dongbin brothers in the same room, seeing that things were getting worse, Singhao could no longer sit still, and in 2015, Singhao personally went to Japan to announce the removal of Xin Dongbin from his position.
Then a dramatic scene appeared, seeing that the second son Xin Dongbin lost power, Chongguang Hatsuko stood on the side of the second son; With the support of Shigemitsu Hatsuko, this chaebol power struggle was quickly reversed, and Shin Dongbin reversed his defeat in one fell swoop and became the de facto head of the Lotte Group.
In this way, Xin Dongbin became the ultimate winner of this chaebol power struggle, and according to common sense, Lotte Group should be on the right track, and the matter is far from over.
On March 20, 2017, 95-year-old Xin Gehao led his family to stand trial because of charges such as illegal business operation of Lotte Group; As a result, Xin Gehao was sentenced to 3 years in prison, and Xin Gehao was sentenced to execution outside prison due to his age and health; Xin Dongbin was sentenced to two years and six months in prison, suspended for four years.
At 16:30 on January 19, 2020, Singhao died of illness at the age of 99.
After this chaebol power struggle, the family relationship between Xin Dongju and Xin Dongbin brothers may never return to the past, where will the former huge business empire of Lotte Group go in the future!