[THE INVESTOR] Shin Dong-joo, the elder son of Lotte Group founder Shin Kyuk-ho, is readying for a new round in the fight for control of the conglomerate.

According to local news reports, Shin Dong-joo’s legal team has found “elements that could be problematic” in Hotel Lotte’s books, and plans to disclose the information “at the appropriate time.”

Shin Dong-joo had hoped to succeed his father as the group’s chairman, but was ousted by his younger half-brother Shin Dong-bin who had the backing of key executives of the conglomerate.

“Analysis of Hotel Lotte’s account books has been completed. We will follow the prosecution’s investigation and then decide whether to act on the information we have,” Shin Dong-joo’s lawyer, Kim Soo-chang, told a local news agency.

Kim also said that the information is unlikely to be released before Lotte Holdings’ general shareholders meeting planned for later this month.

One of the key agenda items of the shareholders meeting includes dismissal of Lotte Group chairman Shin Dong-bin and Lotte Holdings president Tsukuda Takayuki, as proposed by Shin Dong-joo.

According to reports, Shin Dong-joo is also reviewing plans to file a compensation suit against his younger brother.

By Choi He-suk (cheesuk@heraldcorp.com)