Kim Yong-bin, chairman of Daewoo Shipbuilding & Marine Engineering Construction, who was additionally indicted on charges of wage arrears, admitted to the charges in court.
Kim Yong-bin, Chairman of Daewoo Shipbuilding & Marine Engineering Construction. Photo by Yonhap News
On the 1st, during the trial at the Seoul Southern District Court Criminal Division 12 (Presiding Judge Dang Woo-jeung) regarding violations of the Labor Standards Act and the Employee Retirement Benefit Security Act, Kim's side stated, "We intend to confess to the prosecution's charges."
Kim's side also said, "We acknowledge all the facts." They added, "There are mitigating circumstances regarding the reasons for non-payment, and not all the items listed in the charges remain unpaid to date."
Kim was brought to trial last October on charges of failing to pay wages and retirement benefits totaling over 4.7 billion won to about 400 company employees from May last year to January this year. Earlier, Kim was arrested and indicted in April this year on charges including embezzlement of 5.3 billion won of company funds but was released on bail in September. The court decided to consolidate and hear both cases together.
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