Vice chair of SKorea's Lotte group found dead

SEOUL

The vice chairman of one of South Korea's largest companies is reported to have killed himself while awaiting summons on graft allegations.

Yonhap news agency reported Friday that the body of Lee In-won, the Lotte Group's No. 2, was found on a trail in Yangpyeong, 55 kilometers (34 miles) east of Seoul around 7.10 a.m (2230GMT Thursday), after police received a report that a man in his 60s had been seen hanging from a tree.

In a note found in his car, the 69-year-old is reported to have expressed loyalty to the group's chairman, Shin Dong-bin, and denied allegations of impropriety over the alleged creation of a reserve of money for illicit purposes.

Lee was to be summoned by prosecutors at 9.30 a.m. Friday on allegations of a breach of trust and other unlawful activities that have rocked the group.

He is suspected of playing a critical role in tax evasion by the group of hundreds of billions of won (hundreds of millions of dollars), the creation of slush funds worth billions of won, and other allegedly shady deals.

Following a full scale raid in June, state prosecutors have been widening their probe into the retail giant.

The Lotte Group employs around 60,000 people and is engaged in a range of diverse industries.