[Asia Economy Reporter Kim Daehyun] The first trial sentencing hearing for Choi Seon-won, former chairman of SK Networks, who is accused of embezzlement and breach of trust amounting to 223.5 billion KRW, will be held.
On the 27th at 2 PM, the Seoul Central District Court Criminal Division 23 (Presiding Judge Yoo Young-geun) will conduct the sentencing hearing for five defendants, including former chairman Choi, who was indicted for embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes, and Cho Dae-sik, chairman of the SK Supex Council, who was indicted for breach of trust under the same law.
At the previous closing arguments, the prosecution requested the court to sentence former chairman Choi to 12 years in prison and a fine of 100 billion KRW, stating, "The defendant, born into the owner family, enjoyed all the powers of a manager but failed to uphold the necessary compliance management awareness."
In his final statement, former chairman Choi said, "I feel deep remorse," and added, "If the executives and employees indicted together are at fault, it is all my responsibility. If there is any punishment to be given, please punish me." He was prosecuted on charges of embezzling and breaching trust of approximately 223.5 billion KRW from six affiliates under the pretexts of pursuing a personal golf course business, paying false salaries to family and relatives, covering hotel villa residence expenses, paying for personal capital increase, and providing funds to insolvent affiliates.
Chairman Cho is accused of conspiring with former chairman Choi to cause damages by having SKC invest approximately 19.9 billion KRW and 70 billion KRW respectively in the capital increase of SK Telisys, which faced bankruptcy threats in 2012 and 2015. The prosecution requested a 7-year prison sentence for Chairman Cho.
The prosecution also demanded a 5-year prison sentence for Cho Kyung-mok, CEO of SK Energy, who is accused of participating in breach of trust, and a 4-year prison sentence for Choi Mo, former head of SKC’s management support division. For Ahn Seung-yoon, CEO of SK Telisys, who was indicted for violating the External Audit Act, the prosecution requested a 2-year prison sentence.
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