Park Young-woo, Chairman of Daewoo Winia, Arrested for Wage and Severance Pay Arrears Amounting to 30 Billion KRW

Park Young-woo, chairman of Daeyu Winia Group, has been arrested on charges of withholding wages and severance pay amounting to around 30 billion won.

Park Young-woo, chairman of Daeyu Winia, who has been charged with withholding wages and retirement benefits worth hundreds of millions of won (violation of the Labor Standards Act), is attending a pre-arrest detention hearing at the Suwon District Court Seongnam Branch in Seongnam, Gyeonggi Province on the morning of the 19th.
[Image source=Yonhap News]

According to the legal community on the 20th, Nam In-soo, the judge in charge of warrants at the Suwon District Court Seongnam Branch, issued an arrest warrant for Chairman Park on the previous day, citing concerns over evidence destruction and flight risk in connection with charges including violation of the Labor Standards Act.

Chairman Park is accused of withholding approximately 34.7 billion won in wages and severance pay for 649 workers from early May 2021 to September last year (charges including violation of the Labor Standards Act).

Earlier, the prosecution arrested and indicted Park Hyun-chul, CEO of Winia Electronics, on similar charges of violating the Labor Standards Act, and expanded the investigation to higher-ups through searches of Daeyu Winia Group and Chairman Park’s residence.

Additionally, Chairman Park faces charges of perjury for falsely testifying during last year’s National Assembly Environment and Labor Committee audit that he would resolve the wage arrears issue by selling a golf course, but despite securing the funds, he did not pay the overdue wages.