'LG Eldest Son-in-Law Lawsuit' Sambu Construction Grandson Appears at Police Station: "The Truth Will Be Revealed"

Cho Chang-yeon, grandson of the founder of Sambu Construction and who filed a police complaint against Yoon Kwan, CEO of BlueRun Ventures (BRV) and eldest son-in-law of the late LG chairman, on charges of fraud, appeared at the police station.

Yoon Kwan, CEO of Blue Run Ventures.
Photo by Yonhap News

At around 2:51 PM on the 31st, Cho appeared at the Gangnam Police Station in Seoul as a complainant and stated, "I believe the investigation will be properly conducted and the truth will be revealed."

Cho's legal representative responded to reporters' questions about why they filed a criminal complaint despite having appealed a civil lawsuit, saying, "We thought this action was necessary." When asked if there was any additional evidence to submit, the lawyer replied, "We will submit it to the police and proceed accordingly. Since neither the complaint nor the investigation has progressed, it is not an appropriate time to disclose details."

This investigation took place 17 days after Cho filed the fraud complaint against CEO Yoon. Cho and Yoon were classmates at Gyeonggi Elementary School and once closely cooperated during the sale of Renaissance Hotel, a key affiliate of Sambu Construction founded by Cho's grandfather.

However, the two began to have conflicts in 2016 when VSL Korea (now Daol E&C), a fund operated by CEO Yoon, was selected as the purchaser of the Renaissance Hotel site. Cho claims that in October of the same year, Yoon borrowed 200 million KRW in cash from him ahead of an agreement to secure a 1.3 trillion KRW loan but failed to repay it.

In November of last year, Cho filed a civil lawsuit against CEO Yoon seeking the return of the 200 million KRW loan but lost in the first trial, and the second trial is currently underway.