(Photo= Yonhap news)

 

[Alpha Biz= Reporter Kim Jisun] Namyang Dairy Products has filed embezzlement charges against former Chairman Hong Won-sik and two other former executives, alleging violations under the Act on the Aggravated Punishment of Specific Economic Crimes. The company disclosed on the 2nd that the amount involved in the embezzlement is approximately 20.12 billion KRW, which represents 2.97% of Namyang Dairy's total equity capital. In addition to embezzlement, the company has also filed charges related to breach of trust.

This legal action follows a Supreme Court ruling on January 4th, which led to Hong Won-sik and his family transferring management control of Namyang Dairy to a domestic private equity firm, Hahn & Company. Despite this transfer, legal disputes between Namyang Dairy and the Hong family have persisted.

Notably, in June, Hong Won-sik filed a lawsuit against Namyang Dairy, seeking 44.36 billion KRW in severance pay.

 

 

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