Vice chairman of Lotte Group, South Korea's fifth-largest conglomerate, was found dead on Friday, suspected of committing suicide before appearing for questioning amid the ongoing criminal probe into the group on allegations of slush funds and embezzlement.

Lotte said in a text message that it confirmed the death of Lee In-won, the group's second-in-command, through police and other sources.

Earlier, Yonhap news agency reported that Lee was found by a passerby at about 7:10 a.m. local time on a walking path in Yangpyeong in Gyeonggi province, some 50 km east of capital Seoul.

Lee was found hanging from a tree with a necktie and a scarf, suspected of killing himself. Police reportedly plans to carry out an autopsy to discover the exact cause of death.

The report of his death came just hours before Lee was scheduled to be questioned by prosecutors at 9:30 a.m. for allegations of his embezzlement and breach of trust.

On Thursday, prosecutors questioned Lotte's president Hwang Gak-kyu, one of three major confidants to Chairman Shin Dong-bin along with Lee. Hwang has played a major role in the group's strategic planning division.

Lee joined the group in 1973 and became the highest-ranking member outside the founding family. He had been a top lieutenant of Shin, the second son of group founder Shin Kyuk-ho.

Prosecutors have been looking into allegations of slush fund, tax evasion and breach of trust surrounding the group founder and his second son, since they raided the group's headquarters and offices in June.

In July, Shin Young-ja, the chairman's elder sister, was arrested on charges of taking bribes in return for offering shelf space in duty free shops, operated by the group's duty free unit, to local cosmetics company. Enditem

Go to Forum >>0 Comment(s)