Lee Myung-bak Sentencing Request 3 Hours Ago... Son-in-law Cho Hyun-beom Attends First Trial

Indicted and Detained for Embezzlement in the Line of Duty
"Could Not Review Records"... Effectively at a Standstill

[Image source=Yonhap News]

[Asia Economy Reporter Seongpil Jo] On the 8th, at the Seoul Court Complex in Seocho-gu, before former President Lee Myung-bak appeared for the appellate trial's final hearing, his son-in-law visited. It was Cho Hyun-beom, CEO of Hankook Tire & Technology (formerly Hankook Tire). Earlier, CEO Cho was indicted on charges including receiving bribes from partner companies. That morning, his first trial was held under the presiding of Judge Lee Sang-joo of the Criminal Division 1 at the Seoul Central District Court. CEO Cho also appeared in court while in custody.

The trial was stalled. The first hearing typically proceeds with the prosecutor presenting the charges, followed by the defendant stating their position. However, CEO Cho's lawyer did not present a position, citing "inability to review the records." CEO Cho also made no separate statement. The court decided to hear CEO Cho's side at the next hearing scheduled for the 5th of next month.

CEO Cho was brought to trial on charges of embezzling over 600 million won by receiving monthly kickbacks from subcontractors and affiliates of Hankook Tire over a period of 10 years starting in 2008, and hiding the funds through nominee accounts. He was also indicted for receiving money from affiliates and subcontractors using nominee accounts under the names of acquaintances, his brother-in-law, and the father of a hostess at a nightlife establishment. The charges listed in the indictment include breach of trust and embezzlement, violation of the Act on the Aggravated Punishment of Specific Economic Crimes (concealment of criminal proceeds), and violation of the Real Name Financial Transactions Act. The prosecution presented these charges on the day.

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