LG Inheritance Dispute Begins: "Deceived by Claiming a Will Exists" vs "We Reached an Agreement"

The inheritance lawsuit filed by Chairman Koo Kwang-mo's mother and younger sisters against him has begun. The key issues in the trial are expected to focus on whether there was fraudulent conduct regarding the existence of a will by the late Koo Bon-moo, the former chairman of LG Group, and whether the statute of limitations, which refers to the legally prescribed period for asserting rights, has expired.

Koo Kwang-mo, Chairman of LG Group

On the 18th, the 11th Civil Division of the Seoul Western District Court (Presiding Judge Park Tae-il) held the first preparatory hearing for the inheritance recovery lawsuit filed by Chairman Koo's mother, Kim Young-sik, and his younger sisters, Koo Yeon-kyung, CEO of LG Welfare Foundation, and Koo Yeon-su, against Chairman Koo. Neither Chairman Koo nor the three women appeared in court.

The plaintiffs' legal representative argued, "The division of the inheritance property was conducted only among some heirs excluding Koo Yeon-su, and even those heirs who participated in the remaining negotiations proceeded without accurate understanding and consent. The plaintiffs were deceived into believing that the deceased (the late Chairman Koo Bon-moo) had a will stating that the defendant (Chairman Koo) would inherit all shares of LG Corporation, and thus the plaintiffs signed the inheritance property division agreement."

The first preparatory hearing for the inheritance recovery lawsuit filed by three individuals?Kim Young-sik, mother of Koo Kwang-mo, Chairman of LG Group, Koo Yeon-kyung, head of the LG Welfare Foundation and younger sister, and Koo Yeon-soo?was held on the 18th. The photo shows the LG Group owner family attending the 2012 rice longevity celebration (Mi-su-yeon, 88th birthday) of the late Koo Ja-kyung, Honorary Chairman of LG Group (third from the left in the front row). From the left in the front row are the late Koo Bon-moo, former Chairman of LG Group, his wife Kim Young-sik, Honorary Chairman Koo Ja-kyung, Koo Yeon-kyung, head of the LG Welfare Foundation, and her husband Yoon Kwan, CEO of Bluerun Ventures. In the back row, second from the left, are Koo Bon-joon, Chairman of LX Group, Koo Kwang-mo, Chairman of LG Group, and Koo Bon-neung, Chairman of Heesung Group.
[Photo by LG Group]

The defendant's legal representative countered, "The property was divided through negotiations in November 2018, and at that time, the transfer of property titles was publicly announced and covered by the media. More than four years have passed since then, so the lawsuit filed now is invalid due to the expiration of the statute of limitations." Furthermore, they stated, "The inheritance proceeded according to the will of the three plaintiffs, and there were no issues during the process. It is difficult to understand what it means that the plaintiffs claim there was no understanding or consent when they themselves acknowledge that the defendant read the division intent at his residence in Hannam-dong, Seoul."

According to Article 999 of the Civil Act, the right to claim inheritance recovery expires three years from the day the infringement of inheritance rights is known, and ten years from the day the infringement act occurred.

Both parties agreed to summon former LG Management Development Institute Vice Chairman Kang Yoo-sik and Ha Beom-jong, President of LG Corporation's Management Support Division, as witnesses. The next hearing is scheduled for October 5.

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