Shin Dong-joo's Attempt to Return to Lotte Holdings Fails Again

Shin Dong-joo, former Vice Chairman of Lotte Holdings Japan and current Chairman of SDJ Corporation, has once again failed in his attempt to return to management at Lotte Holdings Japan this year.

According to industry sources on June 29, at the regular shareholders' meeting of Lotte Holdings Japan held that day, one proposal from the company was approved, but all three proposals from Shin, including his appointment as a director and changes to the company’s articles of incorporation, were rejected.

This marks the twelfth consecutive time since 2016 that Shin's proposals have been turned down at shareholders' meetings.

Shin was dismissed from various director positions within the Lotte Group in Japan starting in December 2014. His termination was attributed to actions such as unauthorized filming of product displays in retail stores and using that information for marketing purposes through a project called 'POOLIKA,' despite opposition from the board.

Following his dismissal, Shin filed a lawsuit against some of the companies that terminated him, but Japanese courts ruled that his dismissal was justified.