'Violation of the Fair Trade Act' Kim Sang-yeol, Former Chairman of Hoban Construction, Referred to Formal Trial

[Image source=Yonhap News]

[Asia Economy Reporter Kim Daehyun] Former Hoban Construction Chairman Kim Sang-yeol, who was summary indicted on charges of excluding affiliates and family members from the Fair Trade Commission's reporting data, will face a formal trial.

According to the legal community on the 27th, Judge Kim Taek-seong of the Seoul Central District Court Criminal Division 2 referred former Chairman Kim, who was subject to a summary order for violating the Fair Trade Act, to a formal trial. The prosecution initially requested a fine of 150 million won.

A summary order is a procedure that imposes penalties such as fines, fees, or confiscation without a formal trial when the charges are relatively minor. The presiding court can transfer the case to a formal trial ex officio.

Earlier, the Fair Trade Commission accused former Chairman Kim of deliberately omitting 13 affiliates and two relatives from the large business group designation data between 2017 and 2020 and reported him to the prosecution.

After investigating related parties, the prosecution summary indicted former Chairman Kim in July.