This article was published on March 5, 2025, at 9:28 p.m. on the ChosunBiz RM report site.
The court dismissed the arrest warrant for former BHC chairman Park Hyun-jong, who is facing charges of embezzlement and breach of trust.
Director General Nam Se-jin of the Seoul Central District Court conducted a pre-arrest hearing for the former chairman in the morning of the 5th and dismissed the arrest warrant around 9:19 p.m.
Director General Nam stated, “Considering the level of evidence for the alleged crime and the possibility of dispute, it would excessively limit the defendant’s rights to defense to arrest at this stage.” He also noted, “Considering the evidence already secured, the defendant's current status, and the relationship with the victim's side, it is hard to see a risk of destroying evidence beyond the exercise of defense rights.”
He remarked, “Considering the stability of the defendant’s residence, career, family relations, and social ties, as well as the cooperation with summons and investigations by the investigative agencies, there is no concern of flight.”
Former chairman Park is under police investigation for allegedly using tens of billions of won of company funds for personal use or misappropriating corporate credit cards. The embezzlement amount is known to be around 2 billion won. The Anti-Corruption Investigation Unit of the Seoul Metropolitan Police Agency has been continuing its investigation after conducting searches of Park's residence in Songpa District and the BHC headquarters in December 2023.