'LG's Eldest Daughter and Spouse to Face First Trial Next Month Over Insider Trading Allegations'

The trial of Koo Yeon-kyung, the eldest daughter of the late Koo Bon-moo, former chairman of LG Group, and CEO of LG Welfare Foundation, and her husband Yoon Kwan, CEO of BlueRun Ventures (BRV), who are suspected of purchasing stocks based on undisclosed information, will begin next month.

According to the legal community on the 6th, the Seoul Southern District Court Criminal Division 13 (Presiding Judge Kim Sang-yeon) will hold the first hearing for Koo and Yoon, who are charged with violating the Capital Markets and Financial Investment Business Act, on the 18th of next month.

Koo is accused of obtaining unfair profits by purchasing 30,000 shares using undisclosed information that her husband Yoon’s investment company was participating in a paid-in capital increase of the KOSDAQ bio company Medyion. According to the Capital Markets Act, it is prohibited to use undisclosed important information related to the business of a listed company for trading or dealing in specific securities.

Meanwhile, the Seoul Administrative Court dismissed Yoon’s lawsuit against the Gangnam Tax Office head, which sought to cancel the imposition of 12.3 billion KRW in comprehensive income tax, and ruled that Yoon must pay the court costs.