A signboard of Hite Jinro Co. (Image courtesy of Yonhap)
SEOUL, Apr. 3 (Korea Bizwire) — The Supreme Court has confirmed the conviction of a liquor tycoon’s scion indicted for offering illicit business favors to a subsidiary, judicial officials said Wednesday.
In a ruling made March 12, the top court upheld a prison sentence of one year and three months, suspended for two years, for Park Tae-young, president of leading liquor company Hite Jinro Co., on charges of violating the Fair Trade Act by making preferential contracts with Seoyoung E&T Co., a draft beer cooler system making affiliate, in which he holds the largest stake.
The Supreme Court also approved lower courts’ order for Park to carry out 80 hours of community service. The defendant is the eldest son of Hite Jinro Chairman Park Moon-deuk.
The court also confirmed a fine of 150 million won (US$111,000) for Hite Jinro; an eight-month prison sentence, suspended for one year, for Kim In-kyu, president and CEO of the company; and a four-month prison term, suspended for one year, for Kim Chang-kyu, a former vice president of the company. They are accused of giving undue favors to Seoyoung E&T by signing contracts worth several billions of won from 2008 to 2017 with an aim to boost its sales.
(Yonhap)
