Prosecutors appealed the first trial ruling that gave suspended prison sentences to current and former employees of CJ CheilJedang and Samyang Corporation accused of colluding to fix sugar prices worth about 3 trillion won.
According to legal sources on the 29th, prosecutors filed a notice of appeal with the court on the 27th against current and former employees of CJ CheilJedang and Samyang Corporation.
Earlier, on the 23rd, Judge Ryu Ji-mi of the Seoul Central District Court's Criminal Division 5 Single Judge sentenced Kim Sang-ik, former head of Food Korea at CJ CheilJedang, and Choi Nak-hyun, former CEO of Samyang Corporation, who were indicted on charges of violating the Monopoly Regulation and Fair Trade Act, to two years and six months in prison and a fine of 100 million won, suspended for three years. Nine other employees who were also brought to trial were given suspended prison terms or fines. The corporate entities of CJ CheilJedang and Samyang Corporation were each fined 200 million won.
Regarding the reasons for sentencing in the first trial, the court said, "It is not good in terms of culpability because it distorted market order," but added, "Given that international raw sugar prices are publicly disclosed and considering exchange rates, it does not appear they could have taken excessive profits."
At the same time, while holding a briefing on the results of the investigation into starch sugar price-fixing, prosecutors, upon hearing that major defendants had received suspended sentences, said, "We respect the court's decision, but given the scale of the collusion in this case and precedents in similar cases, it is unconvincing," expressing their intent to appeal. In the sentencing hearing on the 9th, prosecutors had sought prison terms and fines for the main defendants.
According to prosecutors, they are accused of colluding to fix sugar prices from February 2021 to April 2025. During this period, sugar prices rose by as much as 66.7%. Prosecutors estimate the scale of the collusion at 3.2715 trillion won.