'Embezzlement and Evidence Tampering' Charges... Kim Tae-han, Former Samsung Bio CEO, First Trial Today

Kim Tae-han, former CEO of Samsung Biologics / Photo by Hyunmin Kim kimhyun81@

[Asia Economy Reporter Kim Daehyun] The first trial of former Samsung Biologics CEO Kim Taehan, who is accused of embezzling billions of won in company funds, is being held today.

At 2 p.m. on the 13th, the Seoul Central District Court Criminal Division 25-2 (Presiding Judge Park Jeongje) will hold the first preparatory hearing for the trial of former CEO Kim, former Executive Director Kim Dongjung, and Vice President Ahn, who have been indicted on charges of violating the Act on the Aggravated Punishment of Specific Economic Crimes (embezzlement) and evidence tampering.

It is uncertain whether former CEO Kim and others will appear in court in person on this day. The preparatory hearing is a session to confirm the defendants' stance on the prosecution's charges and discuss future evidence plans, and defendants are not obligated to attend the court.

Previously, they were indicted on charges of embezzling a total of about 4.7 billion won by personally purchasing shares without board resolution during Samsung Biologics' listing process in 2016 and receiving the difference in cash from the employee stock ownership association's public offering price.

They were also jointly charged with participating in the organized destruction of evidence to conceal the accounting fraud process of Samsung Biologics.

Meanwhile, former CEO Kim resigned from his position with about two years left in his fixed term at the end of last year. He and former Executive Director Kim are separately on trial, having been indicted along with Samsung Group affiliates including Vice Chairman Lee Jae-yong of Samsung Electronics over allegations related to 'Samsung management succession.'

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