[Asia Economy Reporter Lee Gwan-ju] HMM announced on the 10th that the case in which its predecessor, Hyundai Merchant Marine, filed a complaint against Hyundai Group Chairwoman Hyun Jeong-eun and others for breach of trust was dismissed by the prosecution.


HMM stated, "We do not intend to proceed with any appeal against the decision and plan to close the case."


In 2018, Hyundai Merchant Marine filed a complaint with the Seoul Central District Prosecutors' Office against Chairwoman Hyun and former Hyundai Group executives for breach of trust under the Act on the Aggravated Punishment of Specific Economic Crimes. The complaint alleged that during the 2014 sale of Hyundai Logistics (now Lotte Global Logistics), Hyundai Group entered into unfair contracts to secure a higher price and shifted the resulting losses onto Hyundai Merchant Marine.


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In August 2016, Hyundai Merchant Marine completely separated from Hyundai Group and entered a creditor management system with the Korea Development Bank as the major shareholder.


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