Who is Shin Kyuk-ho?
Shin Kyuk-ho was a South Korean businessman who was best known for being the founder of the Korean conglomerate Lotte Corporation. Lotte Group is one of South Korea’s biggest and best-known conglomerates.
He was one of the first-generation founders of the country’s chaebol or family-controlled business groups who moved from rags to riches and saw their businesses flourish on the back of massive state support and a rapidly growing economy.
His death marks the death of all the founders of South Korea’s top five conglomerates — Samsung, Hyundai, LG, Lotte, and SK — have died.
Shin Kyuk-ho Education
Shin bestowed away on a ship to Japan in 1941, where he studied chemical engineering at Waseda University.
Shin Kyuk-ho Age
Shin died aged 98. He was born on 4th October 1921 in Ulsan, Korea.
Shin Kyuk-ho Parents
Kyuk-ho was born the eldest of ten children to Kim Pil-soon and Shin Jin-soo.
Shin Kyuk-ho Wife
Kyuk-ho has been married three times. He was first married to Noh Soon-hwa who died in 1949. The couple had one child, a daughter Shin Young-ja (born 1944).
Shin later married a Japanese woman, Hatsuko Shigemitsu, in 1952. The couple has two sons Shin Dong-joo (born 1954) and Shin Dong-bin (born 1956). He was also married to Seo Mi-Kyung in South Korea under the country’s common-law marriage system. The couple also has one child, a daughter, Shin Yu-mi (born 1982).
Shin Kyuk-ho Children
Kyuk-ho has four children from his three marriages: Shin Young-ja (born 1944), Shin Dong-joo (born 1954), Shin Dong-bin (born 1956), and Shin Yu-mi (born 1982).
Shin Kyuk-ho Lotte
After his University studies, Shin adopted the Japanese name Takeo Shigemitsu and opened a rice cooker manufacturing plant in 1942. The plant was later destroyed during an air raid. In 1948, he founded Lotte. The company grew from selling chewing gum to becoming a major multinational corporation.
The company is South Korea’s fifth-biggest conglomerate with annual revenue of around $74 billion. It has been run by the Shin family since its establishment. Lotte is the owner of the Krispy Kreme and TGI Friday’s franchises here.
Shin Kyuk-ho Net Worth
Shin and his family were ranked 136th on Forbes magazine’s list, “The World’s Billionaires.” Shin has an estimated net worth of 270.5 billion won. He was ranked
38th on the magazine’s list of South Korea’s richest people. As of 2017, Lotte was ranked South Korea’s fifth-largest conglomerate
Shin Kyuk-ho Death
Shin who was a wartime migrant to Japan died on 19th January 2020 aged 98. He had been hospitalized in Seoul to get medical treatment for various age-related symptoms and passed away Sunday at 4:29 p.m.