Prosecutors seek arrest warrant for Lotte Group head

Shin's arrest on suspicion of embezzlement and breach of trust will hit the company hard

South Korean prosecutors asked a court on Monday to approve an arrest warrant for the chairman of the Lotte Group conglomerate on suspicion of embezzlement and breach of trust, a prosecution source with direct knowledge of the matter said.

The arrest warrant request comes after Lotte Chairman Shin Dong-bin, 61, was questioned by prosecutors in an investigation that has battered the country's fifth-largest family-run business group since it became public in June.