'Unfair Support to Affiliates' Former Chairman Park Sam-gu's First Trial Postponed... "Record Review Pending"
[Asia Economy Reporter Seongpil Cho] The first trial of former Kumho Asiana Group Chairman Park Sam-gu, who was indicted on charges including unfairly supporting affiliated companies, stalled without any substantial proceedings.
At the first preparatory hearing for Park's trial held on the 11th under the jurisdiction of the Seoul Central District Court Criminal Division 24 (Presiding Judge Jo Yong-rae), the defense attorney stated, "The investigation records amount to 30,000 pages, so more time is needed to review them, making it difficult to express opinions on the charges or procedural matters." The court accepted the defense's position and decided to hold the second preparatory hearing on the 6th of next month. The defense will review the records and present their position and defense plan at the next hearing.
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Former Chairman Park was detained and indicted on charges of withdrawing 330 billion won from four affiliated companies, including Kumho Terminal, at the end of 2015, and using the funds to pay for the acquisition of Kumho Industrial shares held by creditors such as the Korea Development Bank. The prosecution believes that Park committed these illegal acts in an attempt to rebuild the group and regain management rights.
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