Prosecutors Request Arrest Warrant for Park Sam-gu on Charges of Unfair Support to Affiliates (Update)

[Image source=Yonhap News]

[Asia Economy Reporter Baek Kyunghwan] The prosecution has requested an arrest warrant for former Kumho Asiana Group Chairman Park Sam-gu, who is suspected of 'unfair support to affiliates.'

On the 10th, the Fair Trade Investigation Division of the Seoul Central District Prosecutors' Office (Chief Prosecutor Kim Min-hyung) filed a pre-arrest warrant request against former Chairman Park on charges of violating the Monopoly Regulation and Fair Trade Act, among others.

Former Chairman Park was reported to the prosecution by the Fair Trade Commission on charges of unfairly supporting Kumho Express (formerly Kumho Holdings), in which the controlling shareholder has a high stake, by using affiliates such as Asiana Airlines.

During the investigation, the investigation team conducted a search and seizure of the Kumho Asiana Group headquarters and Asiana Airlines offices in November last year, securing accounting books and electronic data. Subsequently, former Executive Director Yoon of Kumho Asiana Group's Strategic Management Office and Fair Trade Commission employee Song were found to have exchanged money and deleted data unfavorable to Kumho, leading to their arrest and indictment.

Former Chairman Park was summoned to the prosecution as a suspect on the 15th of last month and was questioned for about nine hours. The prosecution is known to have requested the arrest warrant due to the seriousness of the case and concerns over evidence destruction.

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