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[Alpha Biz=(Chicago) Reporter Paul Lee] Shin Dong-joo, former vice chairman of Lotte Holdings in Japan (Chairman of SDJ Corporation), ended the legal dispute that continued from 2018 when he paid the settlement money to Japan's Lotte affiliates.
SDJ Corporation announced on the 14th that Chairman Shin Dong-joo has reached a reconciliation agreement to pay 60 million yen (about 580 million won) to Lotte Service, a subsidiary of Lotte Holdings in Japan, on the 14th of last month.
Earlier, Lotte Service filed a lawsuit for damages against Chairman Shin Dong-joo in August 2018.
In the first trial in April last year, the Tokyo District Court ruled that "there was a violation of the election watchdog's duty as a director" and asked Chairman Shin Dong-joo to pay 480 million yen (about 4.7 billion won) to Lotte Service.
Finally, Chairman Shin Dong-joo agreed to pay 60 million yen in Hwahaegeum to Lotte Service.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
