Former Lawmaker Hong Moon-jong Sentenced to 4 Years and 6 Months in Prison for Embezzling 7.5 Billion Won in Private School Foundation Funds

[Image source=Yonhap News]

[Asia Economy Reporter Heo Kyung-jun] Former lawmaker Hong Moon-jong, who was tried on charges including embezzling about 7.5 billion KRW of private school foundation funds, has been confirmed guilty.

The Supreme Court's First Division (Presiding Justice Kim Sun-soo) on the 16th upheld the lower court's ruling sentencing former lawmaker Hong to 4 years and 6 months in prison in the final appeal trial on charges including violation of the Act on the Aggravated Punishment of Specific Economic Crimes (embezzlement).

Hong was indicted on charges of receiving bribes amounting to about 100 million KRW, including car lease fees, from IT company CEOs from June 2013 to September 2014 under the pretext of lobbying related government ministries while he was a member of the National Assembly belonging to the Liberty Korea Party, the predecessor of the People Power Party.

There are also charges that during his tenure as chairman of the Kyungmin Academy and president of Kyungmin University, he embezzled and misappropriated 7.5 billion KRW of school funds, including 2.4 billion KRW spent on calligraphy and painting transactions, which he later recovered and used at his discretion.

The first trial sentenced Hong to 1 year in prison for bribery and 3 years for embezzlement and other charges. However, it acquitted him of charges related to receiving 30 million KRW in cash and Gongjindan from IT personnel and other embezzlement and breach of trust charges, citing insufficient evidence.

The second trial stated, "The defendant, as the son of the founder of Kyungmin Academy and its chairman, abused his position to treat the assets of Kyungmin Academy and Kyungmin University as personal property, causing harm to the school and students," sentencing him to 4 years and 6 months in prison, a fine of 50 million KRW, and ordering a confiscation of 47.63 million KRW.

The Supreme Court also agreed with the second trial's judgment.

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