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Former Kumho Asiana Group Chairman Park Sam-koo. (Photo=Yonhap News) |
[Alpha Biz= Reporter Kim Jisun] The Fair Trade Commission (FTC) issued a warning to former Kumho Asiana Group Chairman Park Sam-koo for omitting information about affiliated companies in corporate group designation materials. This warning comes in addition to a previous prosecution related to unfair support practices among subsidiaries.
According to the FTC’s findings, Park omitted 10 affiliated companies, including Samhwa Express, Dongseo Travel, and others, in his submissions between 2020 and 2022. These companies, mostly founded by Park's relatives, were required to be reported due to their ownership stakes exceeding certain thresholds, qualifying them as Kumho Asiana affiliates.
However, the FTC noted that these omissions began before Park took control of the group in 2006, reducing the likelihood of legal liability. Furthermore, Park reportedly had no ownership stake, cross-shareholding, or debt guarantees for these companies, suggesting limited awareness of potential control over them. The FTC, therefore, concluded that his level of responsibility for the omissions was relatively low.
AlphaBIZ Kim Jisun(stockmk2020@alphabiz.co.kr)
