AmorePacific Employees Embezzling 3.5 Billion Won Sentenced to Prison in First Trial

Suspected Embezzlement under Special Act, Violation of National Sports Promotion Act
"Personal Intent to Increase Assets through Stocks... Higher Possibility of Criticism"

On the 14th, former employees of the cosmetics company Amorepacific, who were indicted for embezzling about 3.5 billion won of company funds, were sentenced to imprisonment in the first trial.
[Image source=Yonhap News]

[Asia Economy Reporter Oh Gyumin] Former employees of the cosmetics company Amorepacific, who were prosecuted for embezzling over 3.5 billion won of company funds, were sentenced to prison terms in the first trial.

The Criminal Division 11 of the Seoul Western District Court (Presiding Judge Moon Byungchan) sentenced Kwon (38), who was indicted on charges of embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes and violation of the National Sports Promotion Act (gambling, etc.), to 3 years and 6 months in prison at 3:30 p.m. on the 14th. Jo (37), who was prosecuted for embezzlement in the course of business, was sentenced to 10 months in prison with a 2-year probation.

According to the prosecution, Kwon and Jo were employees in charge of online promotions at Amorepacific and are accused of embezzling 3,345,060,000 won over 292 occasions from August 2018 to November last year. They are also accused of using the embezzled company funds for private internet gambling.

The court pointed out, “They embezzled more than 3 billion won over a period of more than three years by exploiting business opportunities,” and added, “They used the embezzled money for personal purposes such as stocks, cryptocurrency, and gambling to increase their own assets, which is highly blameworthy.”

It continued, “Although a significant portion of the embezzled amount has been repaid, a considerable amount remains unpaid, and the victim company has suffered not only financial damage but also serious damage to its trust.”

However, the court explained the sentencing reasons, stating, “They fully admitted their wrongdoing, and the victim company expressed a desire not to pursue punishment. In Kwon’s case, he repaid about 2 billion won by combining his deposit for a rental lease and his parents’ retirement funds,” and added, “Their families petitioned for leniency, and they have strong social ties.”

In September, the prosecution requested the court to sentence Kwon to 6 years in prison and Jo to 1 year and 6 months, stating, “The scale of embezzlement is considerable, and although they reached a settlement with the victim, the crime is serious.”

This content was produced with the assistance of AI translation services.