National Assembly Finance Committee Selects Lotte Holdings President and Teamplus CEO as Witnesses

Discussion Underway to Summon Lotte Group Chairman Shin Dongbin and Hotel Shilla General Manager

The National Assembly Planning and Finance Committee has selected Lotte Holdings President Koh Jungwook and Teamplus CEO Han Hyejin, a ticket trading site operator, as witnesses for the upcoming parliamentary audit.

On the 25th, Chairwoman Im Ija is presiding over the full meeting of the Planning and Finance Committee held at the National Assembly. September 25, 2025 Photo by Kim Hyunmin

On the 30th, the committee passed a motion to summon witnesses and references for the parliamentary audit.

The committee selected them as witnesses to question Lotte Holdings about its low price-to-book ratio (PBR) and the circumstances surrounding its large holdings of treasury shares, as well as to investigate issues related to illicit ticket sales on Ticketbay.

The ruling and opposition parties are also discussing summoning Lotte Group Chairman Shin Dongbin regarding the issue of conglomerate owners receiving overlapping compensation from affiliates; Hotel Shilla General Manager Sung Yoonki regarding the reversal of wedding reservation cancellations at Hotel Shilla; and Hyundai Motor Company Executive Director Lee Seungjo regarding the progress of Korea-U.S. customs negotiations.

On the same day, the committee also passed four non-contentious bills, including amendments to the Export-Import Bank Act, the National Finance Act, the Basic Act on Supporting Supply Chain Stabilization for Economic Security, and the Framework Act on Cooperatives.

The amendment to the Export-Import Bank Act allows the Export-Import Bank to make equity investments as prescribed by presidential decree, even if such investments are not linked to loans or guarantees, provided that profitability is recognized. It also expands the scope of the bank's indirect investments.

The amendment to the National Finance Act establishes a basis for preparing a supplementary budget in cases where a significant tax revenue shortfall is expected.

This content was produced with the assistance of AI translation services.