'2 Billion Embezzlement Allegation' Former BHC Chairman Park Hyunjong's Arrest Warrant Dismissed

Former BHC Chairman Park Hyun-jong, who is suspected of embezzling company funds worth 2 billion won, avoided detention.

Nam Se-jin, the presiding judge in charge of warrants at the Seoul Central District Court, conducted a pre-arrest detention hearing (warrant review) for Park, who is accused of violating the Act on the Aggravated Punishment of Specific Economic Crimes (embezzlement), at around 10:30 a.m. on the 5th. He dismissed the arrest warrant, stating there was "no risk of evidence destruction or flight."

BHC Chairman Park Hyun-jong appeared as a witness at the National Assembly's hearing on the Fair Trade Commission held by the Political Affairs Committee on the 15th, responding to questions from lawmakers. Photo by Yoon Dong-joo doso7@

Judge Nam explained the reason for dismissing the warrant, saying, "Considering the degree of evidence supporting the criminal charges and the possibility of dispute, detaining the suspect at this stage would excessively restrict the suspect's right to defense. Given the evidence already secured, the suspect's current status, and the relationship with the victim, it is difficult to see a risk of evidence destruction beyond the exercise of defense rights."

He added, "Taking into account the suspect's fixed residence, career, family relationships, social ties, and the fact that he has faithfully responded to summons and investigations by law enforcement agencies, there is also no recognized risk of flight."

Earlier, the Anti-Corruption Investigation Unit of the Seoul Metropolitan Police Agency conducted a search and seizure of Park’s residence and BHC headquarters in December 2023. He is suspected of embezzling company funds worth around 2 billion won for personal use.

This is not the first time Park has been caught up in legal risks. In July 2015, Park was sentenced by the Supreme Court last month to six months in prison with a two-year probation for hacking into the internal computer network of BBQ, a competing company, by using accounts of former and current employees, thereby infringing on trade secrets.

Park served as Vice President in charge of overseas business at BBQ before moving to BHC in 2013 after BBQ sold BHC to a private equity fund. He then assumed the position of chairman at BHC. Global Gourmet Services, the holding company of BHC, dismissed him in November 2023 citing management reform.

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