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Asian Family Conglomerates

Family drama returns at Lotte, risking Japan IPO

Elder son fails to unseat jailed brother but vows to continue fight

Shin Dong-joo leaves Lotte Holdings' shareholder meeting in Tokyo. (Photo by Hikariko Yazaki)

TOKYO -- The sibling rivalry that has plagued the South Korean-Japanese conglomerate Lotte for years erupted again on Friday in a shareholder meeting where the founder's elder son made another attempt to push out his brother.

The dispute complicates plans for a Japanese stock market listing by Lotte Holdings, part of a group that is a household name in both countries, with investments spanning food, retail, hotels, chemicals and construction. It also gives a glimpse into the opaque power struggles at the family-run chaebol corporate groups that are a hotbed of scandals in South Korea 

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