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Prosecutors confiscated and searched the group headquarters for allegations that Kumho Asiana Group mobilized affiliates to unfairly support Kumho Express to rebuild the group and restore management rights. This is the second time after a search for seizure of Kumho Asiana Group headquarters and Asiana Airlines in November last year.
According to the prosecution on the 23rd, the Seoul Central District Prosecutor’s Office Fair Trade Investigation Department (Director Prosecutor Kim Min-hyung) issued a seizure and search warrant for the headquarters of Kumho Asiana Group in Jongno, Seoul and Kumho Expressway in Gwangju.
In August of last year, the Fair Trade Commission accused Kumho Industrial, Asiana Airlines, former chairman Park Sam-koo, and two executives to the prosecution, claiming that Kumho Asiana Group engaged in unfair internal transactions. In order to reinforce the total number-centered governance structure, it was judged that preferential treatment was given to certain companies and borrowed 130 billion won from affiliates at low interest rates. Previously, the FTC reported that Kumho Asiana Group used affiliates such as Asiana Airlines to provide unfair support to Kumho Express (Kumho Holdings), which has a high total stake, and imposed a fine of 32 billion won along with a corrective order.
Accordingly, the prosecution initiated a forced investigation in early November of last year and executed a seizure and search warrant for the headquarters of Kumho Group in Jongno-gu, Seoul and Asiana Airlines headquarters in Gangseo-gu, Seoul. On the 11th of last month, Moo Yoon, former chief financial officer of the Kumho Group, was arrested on charges of destroying evidence and giving bribes. In addition, Song Mo, known as a digital forensic agent of the FTC, was handed over to trial on charges of destroying evidence and bribery.
Reporter Ahn Hyo-joo [email protected]
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