Lotte chairman jailed for bribery
Lotte Chairman Shin Dong-bin enters the Seoul Central District Court in southern Seoul, Tuesday. / Yonhap
By Jung Min-ho
A Seoul court has sentenced Lotte Chairman Shin Dong-bin to two years and six months in prison for bribery.
The Seoul Central District Court found him guilty Tuesday of offering a bribe of 7 billion won ($6.5 million) to the K-Sports foundation led by former President Park Geun-hye's friend Choi Soon-sil in return for favors regarding Lotte's duty free business.
Shin was immediately taken into custody following the court ruling and ordered to forfeit the same amount he offered Choi.
After Shin had a private meeting with Park on March 14, 2016, the government announced that it would issue more licenses the next month to operate duty-free shops in Seoul. Within a month, Lotte announced that it would give a "donation" of 7 billion won to the foundation and all the money was sent there by May 31.