Prosecutors Conduct Search and Seizure at Kumho Asiana Group Headquarters for 'Unfair Support to Affiliates'

The headquarters of Kumho Asiana on Ujeongguk-ro, Jongno-gu, Seoul./Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Seongpil Cho] On the 6th, the prosecution launched a forced investigation into Kumho Asiana Group, which is accused of unfairly supporting its affiliates. This action follows a complaint filed by the Fair Trade Commission in August.

The Fair Trade Investigation Division of the Seoul Central District Prosecutors' Office (Chief Prosecutor Minhyung Kim) sent prosecutors and investigators to Kumho Asiana Group's headquarters in Jongno-gu, Seoul, and Asiana Airlines' office in Gangseo-gu to secure accounting books and electronic data.

Earlier, the Fair Trade Commission found that Kumho Asiana Group unfairly supported Kumho Express (Kumho Holdings), which has a high ownership stake by the group head, by using affiliates such as Asiana Airlines. The commission issued corrective orders and imposed a fine of 32 billion KRW. Additionally, Kumho Industrial, Asiana Airlines, former Chairman Park Sam-koo, and two executives from the group's Strategic Management Office at the time were reported to the prosecution.

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