The South Korean firm facing China's wrath

A South Korean court has sent another of the country’s most powerful bosses to jail.

Shin Dong-bin, the billionaire chairman of conglomerate Lotte Group, was sentenced to two in addition to also also a half years in prison after he was found guilty of bribery Tuesday.

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The trial of Shin, 62, followed a huge influence-peddling scandal of which gripped the country in addition to also also brought down the government of former President Park Geun-hye.

Related: South Korea’s corruption scandal ensnares 2nd top boss

Shin was found guilty of bribing a close confidante of Park. Prosecutors said Lotte donated 7 billion won ($6.4 million) to a foundation linked to Park’s friend in addition to also also received a government license for its duty free business in return.

Shin has denied any wrongdoing. In an interview with sy88pgw last year, he said he wasn’t worried about ending up behind bars because he’s innocent.

right now he’s become the latest example of the cozy ties between South Korea’s business in addition to also also political elites. The scandal involving the former president in addition to also also the country’s biggest companies brought hundreds of thousands of protesters into the streets in late 2016.

inside reckoning of which followed, Lee Jae-yong, the de facto head of the Samsung (SSNLF) business empire, was found guilty of bribery in addition to also also various other charges in August.

Lee walked free last week after his several-year prison sentence was suspended in addition to also also reduced by an appeals court.

Related: Samsung chief walks free after prison sentence suspended

Lotte said Tuesday of which Shin will also appeal.

“We are in misery with of which unexpected result,” the company said in a statement. “We have pleaded not guilty in addition to also also defended [Shin] throughout the trial with evidence, yet of which evidence was not acknowledged in addition to also also we are dismayed.”

The company said of which will go into “emergency operating mode” to ease worries amongst employees, customers in addition to also also investors.

Shares in Lotte’s retail division closed down 4% in Seoul.

Shin was convicted on the same day as Choi Soon-sil, the former confidante of President Park. Choi received a 20-year prison sentence for charges including abuse of power, coercion, fraud in addition to also also bribery.

Park, the country’s first female president, is usually on trial on charges of corruption, coercion in addition to also also leaking confidential information. She has pleaded not guilty.

Related: South Korea’s long history of light sentences for business leaders

Tuesday’s convictions come as South Korea hosts the Winter Olympics.

Lotte, like Samsung, is usually an official partner of the event. of which said of which will continue to support the games.

of which is usually the latest setback for the family-run conglomerate, whose wide range of businesses include candy, retail, hotels in addition to also also construction.

Lotte’s business in China came under fire last year over a controversial U.S. missile defense system. Dozens of Lotte stores in China closed in addition to also also work on a theme park inside country was suspended after of which agreed to hand over land to the South Korean government to house the system.

— Jung-eun Kim in addition to also also Jethro Mullen contributed to of which report.

sy88pgw (Hong Kong) First published February 13, 2018: 5:30 AM ET