'Unjust Intervention in Samsung Merger' Hong Wanseon, Former Head of National Pension Service, Granted Parole
[Asia Economy Reporter Kim Hyung-min] Hong Wan-seon, former head of the National Pension Service Fund Management Headquarters, who was convicted and served time for undue interference in the merger of Samsung C&T and Cheil Industries, will be released on parole.
According to the legal community on the 25th, the Ministry of Justice held the first parole review committee meeting of the year on the 18th and determined that former head Hong is eligible for parole. Accordingly, former head Hong will be released on the 30th.
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Former head Hong was sentenced to 2 years and 6 months in prison in April last year for breach of duty, after instructing internal investment committee members of the National Pension Service Fund Management Headquarters to support the merger of Samsung C&T and Cheil Industries, causing significant losses to the National Pension Service. Moon Hyung-pyo, former Minister of Health and Welfare, who was also indicted for exerting influence over the National Pension Service along with former head Hong, was released on parole earlier in September last year.
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