Court Sentences Cho Hyun-beom, CEO of Hankook Tire, to Probation for 'Kickbacks on Supply Payments'
Vice Chairman Cho Hyun-sik of Korea Technology Group Also Given Suspended Sentence
Cho Hyun-beom, CEO of Hankook Tire, accused of accepting bribes from subcontractors, is attending the sentencing trial held at the Seoul Central District Court in Seocho-gu on the afternoon of the 17th. Photo by Yonhap News.
View original image[Asia Economy Reporter Choi Seok-jin] Cho Hyun-beom, CEO of Hankook Tire & Technology (48), who was indicted on charges of receiving bribes worth hundreds of millions of won from suppliers, was sentenced to probation.
On the 17th, Judge Park Jin-hwan of the Seoul Central District Court Criminal Division 1 sentenced Cho, who was indicted on charges of breach of trust and embezzlement, to three years in prison with a four-year probation. He was also ordered to pay a fine of 615 million won.
The court pointed out, "It appears that he maintained continuous business relations with partner companies, effectively providing business convenience," and "He tried to conceal the fact that he received money by creating nominee accounts to hide the proceeds of crime."
However, the court stated the reasons for sentencing, "Considering that he is currently remorseful, has returned the entire amount of damages, the victims are seeking leniency, and the defendant has no prior record of punishment exceeding a fine."
Cho was arrested and indicted last December on charges of receiving hundreds of millions of won monthly, totaling over 600 million won, from suppliers as delivery fees and regularly embezzling about 200 million won from affiliate company funds.
Cho, the second son of former Hankook Tire Chairman Cho Yang-rae, is the son-in-law of former President Lee Myung-bak.
Hot Picks Today
"How Much Will They Get?" 600 Million vs. 460 Million vs. 160 Million... Samsung Electronics DS Division's 'Three Wallets Under One Roof'
- Opening a Bank Account in Korea Is Too Difficult..."Over 150,000 Won in Notarization Fees Just for a Child's Account and Debit Card" [Foreigner K-Finance Status]②
- Yeouido's First Management Approval: Daegyo Apartment Sets Fastest Record at 2 Years 4 Months...Construction to Begin Next Year [Real Estate AtoZ]
- Room Rates Jump from 60,000 to 760,000 Won and Sudden Reservation Cancellations: BTS Fans Outraged, Vow "Not to Buy Even a Bottle of Water in Busan"
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
Meanwhile, Cho Hyun-sik, CEO of Hankook Technology Group and older brother of Cho, who was also indicted for paying false salaries amounting to over 100 million won to their older sister, was sentenced to one year in prison with a two-year probation.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
!["Please Help Us": How Much Do Those Bowing Deeply for Your Vote Really Earn? [Data Pick]](https://cwcontent.asiae.co.kr/asiaresize/307/2026052010120870131_1779239528.png)
