Who is Shin Dong-bin?
Shin Dong-bin is a Japanese-born South Korean businessman. He is also the second son of Shin Kyuk-ho (Takeo Shigemitsu), founder and first CEO of Lotte. Dong-bin is the current CEO of Lotte Corporation. He has a Japanese name: Akio Shigemitsu. Dong-bin chairs the Lotte Group, South Korea’s fifth-largest conglomerate with interests in retail, chemicals, hotels, and others.
As of 2012, Shin served as the CEO of the Korean conglomerate Lotte Corporation and also the Japanese Chiba Lotte Marines baseball team.
Dong-bin began his career at Nomura Securities’ London branch, and after eight years joined Lotte International in Japan in 1988.
Shin Dong-bin Education
Dong-bin attended Aoyama Gakuin University majoring in economics from where he graduated in 1977. He also earned an MBA at Columbia Business School.
How Old is Shin Dong-bin?
Dong-bin is 63 years old as of 2019. He was born on 14th February 1956 in Tokyo, Japan.
Shin Dong-bin Parents – Family
Dong-bin was born to Shin Kyuk-ho, founder and first CEO of Lotte and his Japanese wife, Hatsuko Shigemitsu.
Father’s Death
Dong-bin’s dad died on 19th January 2020. He had been hospitalized in Seoul to get medical treatment for various age-related symptoms and passed away Sunday at 4:29 p.m.
Shin Dong-bin Siblings
Shin has an elder brother Shin Dong-joo (born 1954). He has an elder half-sister Shin Young-ja (born 1944) from his father’s first marriage to Noh Soon-hwa. Dong-bin has a younger half-sister, Shin Yu-mi (born 1982) from his father’s third marriage to
Seo Mi-Kyung.
Shin Dong-bin Wife
Dong-bin got married to Ogo Manami from a Japanese aristocratic family in 1985. The couple has a son and two daughters. All of Dong-bin’s children live in Japan.
Shin Dong-bin Lotte
Dong-bin debuted in the company in Korea through Honam Petrochemical (currently Lotte Chemical). He has served as the chairman of Lotte in Korea since 2011.
Shin took an aggressive approach upon taking control of the group. He grew the giant even further with a series of M&As. This includes those with electronics chain Hi-Mart, Hyundai Logistics, and The New York Palace Hotel.
Dong-bin carried out the largest M&A in the group’s history, taking over the chemical divisions of Samsung — Samsung SDI’s chemical arm, Samsung Fine Chemicals, and Samsung BP Chemicals — estimated to be worth 3 trillion won.
He emerged as the apparent “winner” of a sibling dispute dubbed “war of princes” with his elder brother Dong-joo. Dong-joo has been in charge of the empire’s Japanese operations when he was ousted. On suspecting Dong-bin who subsequently took over Lotte Japan, like the one behind the move, Dong-joo sought to regain power with the help of their father, founder and honorary chairman of the group.
As a result, Dong-bin fought back stripping both his father and elder brother of titles. He claimed that his father lacked the mental capacity to make decisions or name a successor. Their father was admitted to a hospital for mental evaluation due to his deteriorating mental state for which his sister ha requested a legal guardian.
Dong-joo was the only child against the legal guardianship. Dong-bin and his sisters agreed to assume the role.
Shin Dong-bin Net Worth
Through his family business, Dong-bin has earned greatly nd having an enormous fortune in his name. He has an estimated net worth of $1.48 Billion as of 2019.
