The prosecution investigating allegations of 'favoritism purchases' by a KT subsidiary has conducted a search and seizure at the residence of the CEO of Hyundai AutoEver and other locations.


Seoul Central District Prosecutors' Office, Seocho-gu, Seoul. / Photo by Jinhyung Kang aymsdream@

Seoul Central District Prosecutors' Office, Seocho-gu, Seoul. / Photo by Jinhyung Kang aymsdream@

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The Fair Trade Investigation Division of the Seoul Central District Prosecutors' Office (Chief Prosecutor Yong Seong-jin) dispatched prosecutors and investigators on the 20th to four locations, including the residences of the Hyundai AutoEver CEO and a Spark & Associates official, to secure materials related to the allegations.


Earlier, on the 17th, the prosecution conducted search and seizure at the residences of two employees of KT and KT Cloud.


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The prosecution is investigating suspicions that KT Cloud purchased shares of Spark, a company established by Park Seong-bin, the brother-in-law of Hyundai Motor Group Chairman Chung Eui-sun, at a high price as a favor to Hyundai Motor Company, which had purchased shares of a company owned by the brother of former KT CEO Koo Hyun-mo.


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