Court Orders Former Daewoo Shipbuilding CEO Nam Sang-tae to Pay 5.9 Billion Won to Company
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[Asia Economy Reporter Seongpil Cho] Daewoo Shipbuilding & Marine Engineering (DSME) has won a partial victory in a damages lawsuit filed against former President Nam Sang-tae, who was sentenced to prison for breach of trust.
The Civil Division 30 of the Seoul Central District Court (Presiding Judge Han Sung-soo) ruled partially in favor of the plaintiff in the damages claim filed by DSME against former President Nam. The court stated, "The defendant caused damage to the company through illegal acts and is therefore obligated to pay damages," partially accepting the company's claims and ordering "former President Nam to compensate 5.98 billion KRW."
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Former President Nam was indicted on charges including breach of trust and accepting bribes, and in June 2019, he was sentenced to five years in prison and fined over 800 million KRW. The Supreme Court recognized the charges that Nam gave over 2.1 billion KRW to Park Soo-hwan, former CEO of News Communications, to lobby for his reappointment as guilty. Following this, DSME filed a lawsuit claiming, "The company suffered damages due to former President Nam's breach of trust," demanding compensation of over 168.7 billion KRW.
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