Lotte chairman's brother strikes back in family feud

Shin Dong-joo, the elder brother of Lotte Group Chairman Shin Dong-bin, reignited the family feud Thursday, saying he will sue his brother and the group’s parent firm.

Shin Dong-joo’s wife, Cho Eun-joo, read the statement on his behalf at a press conference in downtown Seoul.

The feud over control of the nation’s fifth-largest conglomerate has involved sparring between the two sons - Dong-joo and Dong-bin - of founder Shin Kyuk-ho. Dong-joo, with his father’s help, had tried unsuccessfully to oust his younger brother from Lotte Holdings, the conglomerate's Tokyo-based holding firm. Dong-bin countered by demoting their father, 93, from key posts, implicitly referring to his ailing health.

In the statement, Dong-joo again said his father gave him “full authority” to sue Dong-bin and other executives at Lotte Holdings.

Meanwhile, Dong-bin appeared before the National Assembly in September to say the feud over group control is over and that he would list Lotte’s hotel unit in the first half of next year. He also vowed to simplify the group’s ownership structure and heighten transparency.