Cho Hyun-beom receives suspended sentence in appeal trial... Regarding Chairman Cho Yang-rae's health, "He is doing well"
[Asia Economy Reporter Kiho Sung] Cho Hyun-beom, President of Hankook Technology Group, was sentenced to probation again in the appellate court for charges of receiving bribes worth hundreds of millions of won from subcontractors.
On the 20th, the 5-1 Criminal Appeals Division of the Seoul Central District Court sentenced President Cho, who was indicted on charges of breach of trust and embezzlement, to three years in prison with a four-year probation, the same as the original trial, and ordered a fine of 615 million won. The court dismissed both the prosecution's and President Cho's appeals, stating that the original sentence was neither too harsh nor too lenient.
On the same day, the court also sentenced Cho Hyun-sik, Vice Chairman of Hankook Technology Group and brother of President Cho, to one year in prison with two years probation, and the CEO of the cooperating company, Mr. Lee, who was indicted for mediation of breach of trust, to ten months in prison with two years probation.
Immediately after the verdict, when asked about Chairman Cho Yang-rae's health, President Cho replied, "He is fine," but did not answer questions regarding the trial results or management issues.
President Cho was previously arrested and indicted on charges of receiving several million won monthly, totaling over 600 million won, from subcontractors as delivery fees, and separately embezzling over 200 million won regularly from affiliate company funds. In April of this year, he was sentenced to three years in prison with four years probation in the first trial, and in June, he voluntarily stepped down from his position as CEO of Hankook Tire.
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Earlier, in the July appellate trial, the prosecution requested the court to sentence President Cho to four years in prison and impose a fine of 600 million won.
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