[THE INVESTOR] Lotte Group expressed shock and sorrow over the death of the group’s Vice Chairman Lee In-won, who apparently took his own life early in the morning on Aug. 26.

“We have confirmed the sad news of the late Vice Chairman Lee In-won through police and other channels,” the company said in an official statement. “It is hard to believe Lee, who dedicated his life to lay the foundation of Lotte, has passed away. We will announce the details of funeral arrangements once they are made.”

According to police, Lee was found dead in an apparent suicide at a walking trail in Yangpyeong-gun, Gyeonggi Province, after a local resident notified police at around 7:10 a.m.

Officials are investigating the exact cause of death based on his suicide note found in his car.

The 69-year-old, a key aide to Lotte Group Chairman Shin Dong-bin, was due to appear at the Seoul Central Prosecutors’ Office at 9:30 a.m. for questioning as part of the group’s ongoing corruption probe.

Lee was widely known as the second-in-command at Korea’s fifth-largest conglomerate. Since joining Lotte in 1973, Lee has closely worked with group founder Shin Kyuk-ho and headed major affiliates and the group’s policy coordination unit, which regarded as the retail giant’s control tower.

By Ahn Sung-mi (sahn@heraldcorp.com)