Four Executives Detained for Assisting Former Ssangbangwool Chairman Kim Seong-tae's Overseas Escape

[Asia Economy Reporter Kim Hyung-min] Four executives and employees of an affiliate company, including those accused of assisting former Ssangbangwool Group Chairman Kim Sung-tae's overseas escape and destroying evidence related to various corruption allegations, have been arrested.

Park Jung-ho, the warrant judge at Suwon District Court, issued arrest warrants on the morning of the 13th for four individuals, including affiliate company employee A, who are suspected of instructing evidence destruction and aiding a criminal. Judge Park stated the reason for issuing the warrants was "the crime has been substantiated, and there is a risk of flight and evidence destruction."

Court
Photo by Asia Economy

They are accused of assisting former Chairman Kim's overseas stay and destroying various evidence, such as replacing office PCs, when Kim fled to Singapore just before a prosecution raid in late May last year. In particular, it was confirmed that two executives from the Kwanglim affiliate, including employee A, held a birthday party for Kim on July 29 last year at a karaoke bar in Thailand while Kim was on the run.

At the birthday party, six Ssangbangwool affiliate executives and employees reportedly flew out from Korea carrying 12 frozen Styrofoam boxes containing perilla oil, sesame oil, fruit, fish, abalone, kimchi, and other items. They reportedly served two bottles of whiskey per person and even invited a famous singer to hold a grand birthday party.

Employee A and others are also accused of smuggling out $640,000 overseas around 2019 with a group of 10 employees. Among the executives and employees arrested that day was Kim Mo, the vice chairman of Ssangbangwool and the younger brother of former Chairman Kim Sung-tae.

However, the court dismissed the arrest warrants for two other Ssangbangwool employees who were also charged with aiding a criminal and destroying evidence alongside employee A, stating that "there is insufficient reason for arrest, such as risk of flight or evidence destruction." These individuals are expected to be investigated by the prosecution while remaining free.