Emart disclosed on the 18th that a breach of trust case worth 11.4 billion won had occurred.
That day, Emart said it had submitted a complaint to investigative authorities against an unregistered executive, a person surnamed Lee, on suspicion of violating the Act on the Aggravated Punishment of Specific Economic Crimes (breach of trust). The alleged amount is 11.4 billion won. This corresponds to 0.09% of Emart's equity on a consolidation basis last year.
An Emart official said, "After submitting the complaint, we plan to take all necessary measures in accordance with due process for all subsequent matters, and we will actively cooperate with the relevant authorities' investigation."
The breach of trust amount may change going forward. The company explained that the alleged amount may change depending on the results of the investigative authorities' probe later.
After the news broke, Emart's share price turned lower. As of 6:13 p.m., Emart was trading at 79,000 won in the after-market, down 0.63% from the previous trading day.