S. Korea retail chief's sister given three years jail

SEOUL: A South Korean court sentenced the elderly sister of the chairman of Lotte Group, one of the country's major conglomerates, to three years in prison on Thursday for embezzlement and breach of duty.
Shin Young-Ja, 74, was the latest member of a South Korean business dynasty to fall foul of judicial authorities amid mounting public anger at the sprawling "chaebols" that dominate the economy.
Retail giant Lotte, founded by Shin's father, has been subject of a lengthy corruption probe, but she was the first family member to be convicted.
Her father and two brothers — who are engaged in a bitter public feud for control of the country's fifth-largest family-run conglomerate — have all been indicted on charges of tax evasion and embezzlement.
The Seoul Central District court found Shin guilty of receiving bribes from multiple companies in return for business favours related to Lotte's duty-free shops and department stores since February 2007.
She failed to do business in a transparent and reasonable manner, which is a "basic social responsibility and role" of a corporate leader, a court statement said.
Shin was sentenced to three years in prison and ordered to forfeit 1.4 billion won (RM5.29 million).
"She should be held responsible and made to recover damages done to Lotte Group," it said.
There have been frequent scandals in which top managers at chaebol conglomerates bribed officials to curry favour.
Prosecutors are currently probing whether payments made by giant Samsung were aimed at securing government approval for a controversial merger of two of its units in 2015. — AFP