'Embezzlement of Overseas Corporate Funds' Kim Jun-il, Former Lock&Lock Chairman, Absent from First Trial

Kim Jun-il, the founder and former chairman of Lock&Lock, a brand specializing in airtight containers, who was indicted on charges including embezzlement of overseas corporate funds, was absent from his first trial.

On the 15th, Judge Lee Hwan-gi of the Seoul Central District Court Criminal Division 4 presided over the first trial of former Chairman Kim, who was indicted without detention on charges of embezzlement in the course of business and violation of the International Anti-Bribery Act.

According to the defendant's obligation to appear at the trial date, former Chairman Kim was supposed to appear in court in person, but he was absent citing reasons such as 'staying in Vietnam,' and only his lawyer attended. The initial trial date was set for January 11, but it was changed to this day at the request of former Chairman Kim's side.

The lawyer said, "He stayed in Vietnam for a considerable period due to business, and the court kindly changed the trial date to this day. We tried to adjust the schedule, but it is practically difficult for him to appear," adding, "We deeply apologize for the defendant's absence. We will sincerely participate in the trial going forward."

He also said, "The details about the bribery recipient and the method of delivery, as alleged by the prosecution, are completely missing," adding, "We need to know exactly who the counterpart is, how the bribe was delivered, and how much was delivered to properly exercise our right to defense."

On the other hand, the prosecutor countered, saying, "We believe the evidence secured is sufficient to maintain the prosecution," and "We ask the defendant's side to clearly specify the parts that are unspecified," adding, "The names of public officials appear in the indictment."

The judge, considering the ongoing cooperative investigation schedule between the Ministry of Justice and the prosecution with Vietnam, decided to hold the next trial on June 14 and urged former Chairman Kim to appear.

Former Chairman Kim was indicted last April on charges of embezzling $1.07 million (approximately 1.44 billion KRW) by overcharging construction costs at local corporations in Vietnam and Indonesia from July 2013 to April 2017.

He is also accused of bribing Vietnamese tax officials three times with a total of $91,537 (approximately 120 million KRW) to cover up tax investigations.

Founded by Kim in 1978, Lock&Lock grew into one of Korea's leading household goods companies, spearheaded by its flagship product, the four-sided locking airtight container. In the 2000s, the company expanded into Southeast Asian markets such as Vietnam, growing its business, but became embroiled in lobbying allegations targeting local officials during its overseas market development.

In 2017, Kim sold all his shares to the private equity fund Affinity Equity Partners and stepped down from company management.