Home

The Korea Herald

Latest news

Most Popular

  1. 1

    [AtoZ into Korean mind] Humor in Korea: Navigating the line between what's funny and not

    [AtoZ into Korean mind] Humor in Korea: Navigating the line between what's funny and not
  2. 2

    Yoon seeks rebound, taps 5-term lawmaker as chief of staff

    Yoon seeks rebound, taps 5-term lawmaker as chief of staff
  3. 3

    [Exclusive] Korean military set to ban iPhones over 'security' concerns

    [Exclusive] Korean military set to ban iPhones over 'security' concerns
  4. 4

    Medical standoff deepens as doctors reject new med school plan, talks

    Medical standoff deepens as doctors reject new med school plan, talks
  5. 5

    [Herald Interview] Why Toss invited hackers to penetrate its system

    [Herald Interview] Why Toss invited hackers to penetrate its system
  1. 6

    [Graphic News] 77% of young Koreans still financially dependent

    [Graphic News] 77% of young Koreans still financially dependent
  2. 7

    Korean, Romanian leaders discuss defense tech, nuclear energy

    Korean, Romanian leaders discuss defense tech, nuclear energy
  3. 8

    S. Korean envoys convene to navigate strategy amid Middle East tensions

    S. Korean envoys convene to navigate strategy amid Middle East tensions
  4. 9

    North Korea fires several short-range ballistic missiles into sea: JCS

    North Korea fires several short-range ballistic missiles into sea: JCS
  5. 10

    Samsung, SK hynix investors dump shares on Nvidia crash

    Samsung, SK hynix investors dump shares on Nvidia crash
피터빈트

Kumho Asiana chief takes first win in battle with brother

By Choi He-suk

Published : June 23, 2016 - 15:12

    • Link copied

[THE INVESTOR] The first round of the legal battle between Kumho companies has gone to Kumho Asiana Group chairman Park Sam-koo.

On June 23, the Seoul Central District Court sided with Park in the civil suit brought by his brother Park Chan-koo’s Kumho Petrochemical.



Kumho Petrochemical had filed a suit against Park and former Kumho E&C chief Kee Ock claiming that the two were behind the sale of Kumho Industrial’s commercial papers in 2009.

The firm claims that the two orchestrated the sale of the commercial papers to Kumho Petrochemical despite being aware that Kumho Industrial was financially unsound. In the suit, Kumho Petrochemical demanded compensation of 10.3 billion won (US$8.9 million), saying that the corporate papers had cost the company 16.5 billion won.

By Choi He-suk (cheesuk@heraldcorp.com)

More from Headlines