You are here: Home » PTI Stories » National » News
Business Standard

SKorea's Lotte chairman charged in corruption scandal

AFP  |  Seoul 

South Korean prosecutors today charged the chairman of retail giant in connection with the corruption scandal that brought down former president Park Geun-Hye.

Shin Dong-Bin is accused of using more than USD 6 million to bribe Park and her secret confidante Choi Soon-Sil, the prosecutors said on the same day they charged Park with bribery and abuse of power.

Shin, 62, allegedly offered seven billion won (USD 6.15 million) to a sports foundation linked to Choi in exchange for a policy favour from Park over Lotte's duty-free business.

Choi is on trial for coercion and abuse of power. She allegedly used her presidential ties to force local firms to "donate" nearly USD 70 million to non-profit foundations which she allegedly used for personal gain.

Now Choi faces an additional charge of bribery involving Shin, the prosecutors said.

Park is accused of colluding with Choi and offering policy favours to top businessmen who enriched her friend. These are alleged to include Shin and Samsung heir Lee Jae- Yong, who was arrested earlier and is also on trial for bribery.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, April 17 2017. 15:07 IST