Seoul, August 3

A family battle for control of South Korea’s largest retailer has erupted in public after the group’s 92-year-old founder was demoted to a powerless role by his youngest son.

Shin Dong-bin, 60, has been trying to solidify his control of Lotte conglomerate, in the face of opposition from his older brother Shin Dong-joo, 61, and his father Shin Kyuk-ho.

Shin Dong-bin today said his brother and father had attempted to sack him as chairman of Lotte but their efforts had no legal standing.

In response to those manoeuvres, Lotte had earlier demoted Shin Kyuk-ho to honorary chairman, from general chairman overseeing Lotte’s businesses in Japan and South Korea.