Prosecutors sent HDC Holdings Co. Group Chairman Chung Mong-gyu to a summary trial on charges of omitting materials required for designation as a large business group subject to cross-shareholding restrictions to the Korea Fair Trade Commission.
According to legal sources on the 6th, the Seoul Central District Prosecutors' Office Fair Trade Investigation Division (Director General Na Hee-seok) summarily indicted Chairman Chung that day on charges of violating the Fair Trade Act, seeking a fine of 150 million won.
A summary indictment is a procedure in which prosecutors petition the court to impose a fine through a paper review instead of a full trial.
Chung is accused of omitting 20 companies that hold equity of his younger sibling and maternal uncle's families from the list of affiliated companies from 2006 to 2024. The total asset size of the companies omitted from reporting is known to exceed 1 trillion won.
However, the Korea Fair Trade Commission (FTC), taking into account the statute of limitations, filed a complaint with prosecutors last month only for the acts of material omission that occurred from 2021 to 2024. The issue is that the statute of limitations for the case the Korea Fair Trade Commission (FTC) reported was until the 8th. It effectively handed the case to prosecutors right before the statute of limitations expired.
Earlier, the Korea Fair Trade Commission (FTC) also filed a complaint with prosecutors in February against DB Group founding chairman Kim Joon-ki, who faces the same charge, with about two months left before the statute of limitations. Prosecutors summarily indicted Chairman Kim on the 3rd, two days before the statute of limitations expired.