February 13, 2018 / 9:11 AM / a year ago

South Korea's Lotte Group says jailing of chairman 'unexpected'

SEOUL (Reuters) - South Korea’s Lotte Group said on Tuesday that the jailing of its chairman was “unexpected”, adding it was worried the ruling could affect mounting current issues such as a initial public offering of key unit Hotel Lotte [HTLOT.UL].

Seoul Central District Court jailed Shin Dong-bin, the chairman of country’s fifth-largest conglomerate, for two years and six months for bribery tied to an influence-peddling scandal that rocked the country’s business and political elite.

Reporting by Joyce Lee; Editing by Nick Macfie

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