Former Kumho Asiana Chairman Park Sam-gu's First Trial to Be Held on the 11th of Next Month... Charged with Embezzlement and Breach of Trust under the Act on the Aggravated Punishment of Specific Economic Crimes
Former Kumho Asiana Group Chairman Park Sam-gu, who is suspected of unfair support to affiliates, is attending the warrant hearing held at the Seoul Central District Court in Seocho-dong, Seoul on the 12th. Photo by Kang Jin-hyung aymsdream@
View original image[Asia Economy Reporter Choi Seok-jin] The first trial of former Kumho Asiana Group Chairman Park Sam-gu, who was arrested and indicted on charges of embezzlement and breach of trust amounting to thousands of billions of won, including 'unfair support to affiliates,' will be held on the 11th of next month.
According to the legal community on the 27th, the Seoul Central District Court Criminal Division 24 (Chief Judge Jo Yong-rae) will hold a preparatory hearing on the 11th of next month for former Chairman Park, who was arrested and indicted on charges of embezzlement and breach of trust under the Act on the Aggravated Punishment of Specific Economic Crimes, as well as violations of the Fair Trade Act.
The preparatory hearing is a procedure where the court listens to the opinions of both the prosecution and defense and discusses the plan for evidence presentation; the defendant is not required to attend.
The day before, the Fair Trade Investigation Division of the Seoul Central District Prosecutors' Office (Chief Prosecutor Kim Min-hyung) arrested and indicted former Chairman Park.
Former Chairman Park is accused of withdrawing 330 billion won from four affiliates, including Kumho Terminal, at the end of 2015 and using it to pay for the acquisition of Kumho Industrial shares held by creditors such as the Korea Development Bank.
The prosecution judged that former Chairman Park committed various illegal acts, including embezzling affiliate funds, to rebuild the group and regain management rights.
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The Seoul Central District Court Criminal Division 24, which will handle this trial, is a division specializing in economic cases. Judge Yang Seok-yong was assigned as the presiding judge for former Chairman Park's case.
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