[THE INVESTOR] Lotte Group Chairman Shin Dong-bin has been awarded a royal medal by the King of Spain for his contributions to the enrichment of bilateral trades, Lotte said on May 19.

Shin was presented with the Cross of Official of the Order Isabel La Catolica, an honorary civil order granted by King Felipe VI, at the Spanish Embassy in Seoul, the group said in a statement.

Spanish Ambassador to Korea Gonzalo Ortiz conferred the royal badge on behalf of the monarch, it added.

The award came in recognition of the chairman’s merits as an entrepreneur who has shown keen interest in strengthening economic relations between Spain and South Korea and has potential for a greater role in the future, Lotte said.

By Alex Lee and newswires (alexlee@heraldcorp.com)