Court Refers KCC Chairman Chung Mong-jin to Formal Trial for 'Omission of Submission of Nominee Affiliate Documents'

Jung Mong-jin, Chairman of KCC.

[Asia Economy Reporter Choi Seok-jin] Chung Mong-jin, chairman of KCC, who is accused of deliberately omitting information about affiliates held under borrowed names while submitting data for designation as a Mutual Investment Restriction Corporate Group under the Monopoly Regulation and Fair Trade Act (Fair Trade Act), will face a formal trial.

According to the legal community on the 31st, Judge Yang Eun-sang of the Criminal Division 18 at the Seoul Central District Court referred Chairman Chung, who was summarily indicted with a fine of 100 million won for violating the Fair Trade Act, to a formal trial.

A summary indictment is a procedure in which the prosecution requests the court for a summary order such as a fine when the charges are relatively minor.

When referred to a formal trial, evidence investigation and other procedures proceed through a public trial, just as in the case of a formal public prosecution.

Earlier, the Fair Trade Commission detected and reported to the prosecution that Chairman Chung, the same person (the subject controlling the corporate group) of KCC, a Mutual Investment Restriction Corporate Group, deliberately omitted 10 companies including borrowed-name owned companies and suppliers held by the controlling family, as well as 23 relatives, while submitting data for designation as a large corporate group in 2016-2017.

Due to this omission of data, KCC was excluded from the Mutual Investment Restriction Corporate Group.

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