A summary order imposing a fine has been issued to Chairman Chung Mong-gyu of HDC Holdings Co., who is suspected of submitting false data for the designation of a large business group subject to limits on mutual investment.
According to legal sources on the 18th, Judge Kim Jae-hak of the Seoul Central District Court's Criminal Division 11 issued a summary order on the 15th imposing a fine of 150 million won on Chairman Chung for allegedly violating the Fair Trade Act.
A summary order is a procedure in which, for relatively minor charges, the court imposes a property penalty such as a fine, minor fine, or forfeiture through a paper review without a formal trial.
Earlier, the Korea Fair Trade Commission detected that, in the process of submitting materials for the designation of a large business group subject to limits on mutual investment in Mar., Chairman Chung omitted a total of 20 affiliates from the list, including eight companies controlled by his younger sibling's family and 12 companies controlled by his maternal uncle's family.
According to the Korea Fair Trade Commission (FTC), among the omitted affiliates, 12, including SJG Holdings, were controlled by Chairman Chung's maternal uncle, Park Se-jong, honorary chairman of SJG Sejong, and eight, including Intrans Shipping, were identified as corporations controlled by his younger sister, Chung Yoo-kyung, and her husband, Kim Jong-yeop, CEO of Intrans Shipping.
Prosecutors who took over the case filed a summary indictment on the 6th of last month, asking the court to impose a fine of 150 million won on Chairman Chung.