AmorePacific Files Police Complaint Against Three Employees for Embezzlement of 3.5 Billion KRW

[Asia Economy Reporter Jang Hyowon] Cosmetics company Amorepacific has reportedly filed a complaint with the police against three employees who embezzled 3.5 billion KRW of company funds.

According to industry sources, on the afternoon of the 18th, Amorepacific filed a complaint with the Yongsan Police Station in Seoul against Mr. A and two others on charges of embezzlement under the Act on the Aggravated Punishment of Specific Economic Crimes.

They are known to have embezzled company funds by diverting payments received from supplying products to clients, using the money for illegal gambling and investing in stocks and cryptocurrencies. Amorepacific confirmed these facts through an internal regular audit and dismissed the employees.

An Amorepacific official responded to criticism that the complaint was filed late despite knowing about the embezzlement, saying, "Debt repayment was the top priority, and there was no concern that the embezzling employees would flee," adding, "In fact, most of the embezzled amount was recovered through negotiations."

The official added, "Since the company is also a victim, we will actively cooperate with the investigation going forward."

The police plan to review the complaint and summon the involved parties for investigation.