Former Chairman Park Sam-gu's Warrant Hearing Ends After 6 Hours... Results Expected to Be Delayed

Former Kumho Asiana Group Chairman Park Sam-gu, who is suspected of unfairly supporting affiliates, is attending the warrant hearing held at the Seoul Central District Court in Seocho-gu, Seoul on the 12th. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Choi Seok-jin] The detention hearing for former Kumho Asiana Group Chairman Park Sam-gu, who has been indicted on charges of unfair support to affiliates, concluded about six hours after it began.

Seoul Central District Court Judge Lee Se-chang, in charge of detention warrants, conducted the detention hearing for former Chairman Park from 10:30 a.m. to 4:15 p.m. The hearing lasted longer than expected, and after a break for lunch, it resumed.

Arriving at the Seoul Central District Court in Seocho-dong, Seoul, to attend the detention hearing that morning, former Chairman Park did not respond to any questions from reporters, including whether he admitted the charges. However, as he entered the courtroom, he said, "I'm sorry."

After the hearing, Park left the court without answering reporters' questions.

Earlier, the Fair Trade Division of the Seoul Central District Prosecutors' Office (Chief Prosecutor Kim Min-hyung) filed a detention warrant request against former Chairman Park on the 10th on charges including violation of the Monopoly Regulation and Fair Trade Act.

Former Chairman Park is accused of supporting nine affiliates, including Asiana Airlines, to lend about 130 billion won to Kumho Express, where the family has a high ownership stake, at unsecured low-interest rates in 2016. The prosecution suspects that such unfair transactions between affiliates were made to strengthen the Park family's control.

Kumho Express is controlled by the Park family, holding more than 70% of the shares. After the Fair Trade Commission's accusation last year, the prosecution launched an investigation and summoned former Chairman Park on the 15th of last month. Considering the seriousness of the case and the risk of evidence destruction, they requested a detention warrant for him.

However, Park's side has denied the charges, claiming that the funds were lent to Kumho Express at appropriate interest rates and that there was no unfair benefit provided to related parties.

Meanwhile, five members of the Countermeasures Committee for the Reinstatement of Asiana KEO Dismissed Workers held a protest in front of the Seoul Central District Court, urging the detention of former Chairman Park during the detention hearing. During the protest, a physical clash with police officers trying to stop the demonstration resulted in one protester collapsing and being transported by ambulance to a nearby hospital.

The decision on whether to detain former Chairman Park is expected late in the afternoon or early morning on the 13th.