Prosecutors Summon Former Chairman Park Sam-gu Over 'Unfair Support to Affiliates' (Update)

[Asia Economy Reporter Bae Kyunghwan] The prosecution investigating allegations of 'unfair support among affiliates' by Kumho Asiana Group (Kumho Group) has summoned former Kumho Group Chairman Park Sam-gu.

According to the legal community on the 15th, the Fair Trade Investigation Division of the Seoul Central District Prosecutors' Office (Chief Prosecutor Kim Min-hyung) is currently investigating former Chairman Park, who is accused of violating the Monopoly Regulation and Fair Trade Act (Fair Trade Act) and other charges.

On August 8 last year, the Fair Trade Commission imposed corrective orders and a fine of 32 billion won on Kumho Asiana Group for unfairly supporting Kumho Express (Kumho Holdings), whose major shareholder is the group head, by using affiliates such as Asiana Airlines. Subsequently, former Chairman Park, two executives of the Strategic Management Office at the time, and the corporations Kumho Industrial and Asiana Airlines were reported to the prosecution.

Afterward, the prosecution conducted a search and seizure of Kumho Asiana Group headquarters and Asiana Airlines offices in November last year and secured accounting books and other documents. In February, they also searched Kumho Terminal's Gwangju headquarters and Seoul office.

Prior to former Chairman Park, former Group Strategic Management Office head Park Mo was investigated earlier this month as a suspect. Park Mo is known to be a close aide of former Chairman Park.

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