[THE INVESTOR] Lotte Group Chairman Shin Dong-bin will move both his office and residence to Lotte World Tower, according to news reports on July 9.
His office will be relocated on the 18th floor of the 123-story building from the group headquarters in central Seoul around July 20, according to the company. Key organizations of the group, including management innovation unit, will follow suit.
Meanwhile, Shin will settle in a duplex residence by September at the latest, from Lotte Castle in Jongno-gu, Seoul. His new residence, spread over 1,168 square meters on the 70th and 71st floors is estimated to be worth 28 billion won (US$24.32 million).
His father Shin Kyuk-ho, founder and honorary chairman of the company, will likely shift to the 114th floor of the flagship building. The 95-year-old tycoon is currently residing at Lotte Hotel in central Seoul.
By Hwang You-mee (firstname.lastname@example.org)