The Supreme Court will issue its final ruling on the 25th on Mirae Asset affiliates that were brought to trial on charges of unlawfully supporting a golf course operated by the group owner's family.
The Supreme Court's Second Division (Presiding Justice Eom Sang-pil) will deliver a ruling in the appeal of the cases against Mirae Asset Global Investments and Mirae Asset Life Insurance, which were indicted on charges of violating the Monopoly Regulation and Fair Trade Act.
The two companies are accused of steering work by making it a rule from January 2015 to December 2016 to use Blue Mountain CC in Hongcheon County, Gangwon, owned by Mirae Asset Consulting, in which Chairman Park Hyeon-joo and other members of the Mirae Asset Group owner's family hold 91.86% equity, and conducting 24 billion won worth of transactions.
Prosecutors initially filed a summary indictment against the two companies. A summary indictment is a procedure in which prosecutors ask the court to impose a fine or fines based on a paper review. In April 2022, the court issued a summary order, fining each company 30 million won. However, the two companies objected and requested a formal trial.
The two companies were acquitted in the first and second trials. The court said, "Based solely on the evidence submitted by the prosecutor, it cannot be deemed proven beyond a reasonable doubt that Mirae Asset affiliates intended to attribute undue gains to related parties through the golf course transaction."
Blue Mountain CC changed its name to Sagewood CC in 2020 to coincide with the opening of the Sagewood Resort.