No fireworks at South Korea’s Lotte World Tower this spring
Lotte reduces fancy events amid leadership vacuum
By Park Jae-hyuk
Lotte has decided not to display fireworks at Lotte World Tower in the first half of this year, amid a leadership vacuum following Chairman Shin Dong-bin’s imprisonment, the conglomerate said Monday.
According to industry officials, the retail giant initially considered hosting fireworks shows at the nation’s tallest tower this April, May and December.
The 123-story skyscraper hosted an 11-minute-long fireworks show worth 4 billion won (US$3.7 million) last April to celebrate the eve of the tower’s opening and the conglomerate’s 50th anniversary, attracting about 400,000 visitors to view it at nearby Seokchon Lake. The 555-meter building also put on a 555-second fireworks display on New Year’s Eve.
Lotte’s recent decision has therefore caused concerns it may fear negative public sentiments toward the company embroiled in corruption charges.
Last month, the Seoul Central District Court found Chairman Shin guilty of offering a bribe of 7 billion won to the K-Sports Foundation led by former President Park Geun-hye’s friend Choi Soon-sil in return for favours regarding Lotte’s duty free business. Shin was immediately taken into custody following the court ruling and ordered to forfeit the same amount he offered Choi.