Most Popular
-
1
Contentious grain bill put directly to plenary meeting for vote
-
2
Yoon's approval rating plunges to all-time low
-
3
Climate impacts set to cut 2050 global GDP by nearly a fifth
-
4
Trilateral talks acknowledge ‘serious’ slumps of won, yen
-
5
North Korea removes streetlights along cross-border roads with South
-
6
Russia's denial of entry of S. Korean national unrelated to bilateral ties: Seoul official
-
7
S. Korea votes in favor of Palestinian bid for UN membership
-
8
Bae Doo-na shares portraying Korean identity in Hollywood's 'Rebel Moon'
-
9
Farming households dip below 1m for first time in 2023
-
10
[From the Scene] Monks, Buddhists hail return of remains of Buddhas
![[From the Scene] Monks, Buddhists hail return of remains of Buddhas](//res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/04/19/20240419050617_0.jpg&u=20240419175937)
![[From the Scene] Monks, Buddhists hail return of remains of Buddhas](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=644&simg=/content/image/2024/04/19/20240419050617_0.jpg&u=20240419175937)
The Seoul High Court delayed the trial in the case of alleged stock manipulation of the Korean unit of Lone Star Funds, the biggest shareholder of Korea Exchange Bank, to July 21.
While the court held the trial on Thursday, it accepted the proposal for a delay from lawyers for Paul Yoo, former CEO of the now-defunct Lone Star Korea.
In March, the Supreme Court hinted that former Lone Star Korea CEO Paul Yoo could be implicated in the stock manipulation of the now-defunct KEB Credit Service, which was later merged into its affiliate KEB with a massive manpower restructuring in 2004.
The Supreme Court overturned a lower court decision that found Yoo not guilty of manipulating the Korean unit of Lone Star’s stock price.
The case has been sent back to the Seoul High Court for retrial.
The Supreme Court’s ruling had seemingly embarrassed the FSC, which had allegedly endorsed the Hana Financial Group-Lone Star deal over KEB shares during the first quarter.
“I believe the FSC’s ongoing delay means that it has no intention to approve the Hana Financial’s takeover deal,” a local banker said.
The prosecution expressed its unease about the postponement.
By Kim Yon-se (kys@heraldcorp.com)
While the court held the trial on Thursday, it accepted the proposal for a delay from lawyers for Paul Yoo, former CEO of the now-defunct Lone Star Korea.
In March, the Supreme Court hinted that former Lone Star Korea CEO Paul Yoo could be implicated in the stock manipulation of the now-defunct KEB Credit Service, which was later merged into its affiliate KEB with a massive manpower restructuring in 2004.
The Supreme Court overturned a lower court decision that found Yoo not guilty of manipulating the Korean unit of Lone Star’s stock price.
The case has been sent back to the Seoul High Court for retrial.
The Supreme Court’s ruling had seemingly embarrassed the FSC, which had allegedly endorsed the Hana Financial Group-Lone Star deal over KEB shares during the first quarter.
“I believe the FSC’s ongoing delay means that it has no intention to approve the Hana Financial’s takeover deal,” a local banker said.
The prosecution expressed its unease about the postponement.
By Kim Yon-se (kys@heraldcorp.com)
![[From the Scene] Monks, Buddhists hail return of remains of Buddhas](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=652&simg=/content/image/2024/04/19/20240419050617_0.jpg&u=20240419175937)
![[KH Explains] Hyundai's full hybrid edge to pay off amid slow transition to pure EVs](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=652&simg=/content/image/2024/04/18/20240418050645_0.jpg&u=20240419100350)
![[Today’s K-pop] Illit drops debut single remix](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=642&simg=/content/image/2024/04/19/20240419050612_0.jpg&u=)