[Invest&Law] Jay Y. Lee, Koo Kwang-mo, Heo Young-in... Busy Court Schedule for Major Business Leaders in Q4

Trials for Kim Beom-su and Yoo Jun-won Scheduled for the Rest of September

Key corporate leaders, including Jay Y. Lee, Executive Chairman of Samsung Electronics, and Koo Kwang-mo, Chairman of LG Group, as well as former and current executives, will continue to face trials in the fourth quarter at the Seoul Central District Court and the Seoul High Court.

In October, a series of trials are scheduled from the beginning of the month. On the 1st, Song Young-sook, Chairwoman of Hanmi Pharmaceutical, will have a verdict hearing for a penalty claim lawsuit she filed against Shin Dong-guk, Chairman of Hanyang Precision. On the same day, a criminal trial will be held for Kang Woong-chul, founder of Bodyfriend, and Han Joo-hee, Chairman of Han & Brothers, on charges of embezzlement and breach of trust. On the 7th, a trial is scheduled for Heo Young-in, Chairman of SPC Group, who has been indicted on charges of “repression of the Korean Confederation of Trade Unions (KCTU) labor union.” On the 8th, there will be a hearing for a shareholder representative lawsuit against Park Moon-deok, Chairman of Hite Jinro.

On the 14th, three owner-related criminal trials will coincide. Partiality in affiliate support charges for Jung Do-won, Chairman of Sampyo Group; embezzlement and breach of trust charges involving 6 billion won for Park Hyun-jong, former Chairman of BHC; and slush fund creation charges for Lee Ho-jin, former Chairman of Taekwang Group, will all be tried at the Seoul Central District Court on the same day. On the 15th, the legal team for Ra Deok-yeon will begin the first appeal trial at the Seoul High Court in the damages lawsuit against Kim Ik-rae, former Chairman of Kiwoom Securities.

In November, the inheritance dispute within the LG family will resume. The Seoul High Court's Civil Division 8-3 (Presiding Judge: Oh Young-sang) will hold an appellate hearing on November 27 regarding the inheritance recovery claim filed against Chairman Koo Kwang-mo by his stepmother, Kim Young-sik, his younger sister, Koo Yeon-kyung, who is CEO of LG Welfare Foundation, and Koo Yeon-soo. The three women filed a suit in February 2023 demanding a redistribution of the late former Chairman Koo Bon-moo's estate, worth approximately 2 trillion won, but the court previously accepted Chairman Koo’s arguments and dismissed the plaintiffs' claims.

On the same day at the Seoul Central District Court, there will be a preliminary trial for former Hyosung Heavy Industries Vice President Cho Hyun-moon regarding an attempted coercion case, as well as a hearing in a shareholder representative lawsuit involving Daishin Securities Chairwoman Leeo Ryong. The hearing for a claim filed by former Vice President Cho regarding a contractual deposit is scheduled for the 13th, while the hearing for a damages lawsuit against Jang Hyeong-jin, advisor at Young Poong, is set for the 26th.

On December 3, the National Pension Service’s damages lawsuit concerning the Samsung C&T merger, filed against Chairman Jay Y. Lee and other executives, will be heard at the Seoul Central District Court.

Although there will not be court sessions, some cases are awaiting rulings. The divorce lawsuit between Chey Tae-won, Chairman of SK Group, and Noh So-young, Director of Art Center Nabi, was sent back to the Supreme Court last month following Chairman Chey's re-appeal on August 14. On September 9, Chairman Chey’s side said that they would accept 700 billion won out of the 944 billion won property division amount and would contest only the remaining 244 billion won.

Meanwhile, in the remaining third quarter, trials involving corporate leaders will also continue. On the 23rd, the Seoul High Court will hear the appellate trial for Kim Beom-su, founder of Kakao, who is accused of stock price manipulation at SM Entertainment. On the 30th, there will be an appellate trial for Yoo Jun-won, Chairman of Sangsangin Group, who has been indicted for illegal loans and stock price manipulation, also at the Seoul High Court.

This content was produced with the assistance of AI translation services.