Hanbogroup's Fourth Son Jeong Han-geun Sentenced to 7 Years in First Trial for 2021 Overseas Escape

[Asia Economy Reporter Seongpil Cho] Jeong Han-geun (55), the fourth son of former Hanbo Group chairman Jeong Tae-soo, who was captured and brought to court after 21 years of fleeing abroad, was sentenced to 7 years in prison in the first trial.

The Seoul Central District Court Criminal Division 32 (Presiding Judge Yoon Jong-seop) announced this sentence on the 1st during the verdict trial for Jeong's case involving violation of the Act on the Aggravated Punishment of Specific Economic Crimes (property concealment abroad), and ordered the confiscation of more than 40.1 billion won.

The court stated, "The defendant's actions constitute property concealment abroad under the Specific Economic Crimes Act," and "all charges are recognized as guilty." It further explained the sentencing reasoning by saying, "Considering that the defendant admitted to all crimes except for some and is showing remorse."

Jeong was indicted on charges of embezzling and hiding overseas approximately 32 billion won by fabricating a sale of 9 million shares of a Russian oil company held by Dong-A Asia Gas (EAGC), a subsidiary of Hanbo Group, as sold for 25.2 million dollars, while the actual sale was for 57.9 million dollars in 1997.

The indictment also included charges of violating the Foreign Exchange Transactions Act by sending money abroad without government approval and forging official documents necessary during his escape abroad.

Jeong fled overseas in 1998 while under prosecution investigation. Prosecutors, tracking his whereabouts, coordinated with Ecuador, the United States, and others, and secured Jeong's custody last June after 21 years, bringing him to court.

This content was produced with the assistance of AI translation services.