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Obituaries

Lotte Group founder Shin Kyuk-ho dies

Lotte Group Founder Shin Kyuk-ho arrives for a trial at a court in Seoul on March 20, 2017.    © Reuters

SEOUL (Reuters) -- Lotte Group founder Shin Kyuk-ho, who started manufacturing chewing gum in 1948 in Japan and built the business into South Korea's No. 5 conglomerate with interests ranging from retail to chemicals, died on Sunday, the company said. He was 98.

He was the last of the South Korean entrepreneurs who founded the country's major chaebols, or family-run conglomerates, that now dominate Asia's fourth-largest economy.

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