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Kim Jun-ki. (Photo=Yonhap News Agency) |
[Alpha Biz= Paul Lee] Kim Jun-ki, founder of DB Group, has been summarily indicted by prosecutors on charges of violating fair trade laws by omitting affiliated entities from official disclosures.
According to legal sources on April 3, the Seoul Central District Prosecutors’ Office’s Fair Trade Investigation Division filed a summary indictment against Kim, seeking a fine of KRW 150 million.
A summary indictment is a procedure used for relatively minor offenses, allowing prosecutors to request a fine or similar penalty through written review without a full trial. If the court finds the case unsuitable for summary proceedings, it may refer the case to a formal trial.
Kim is accused of failing to disclose the Donggok Social Welfare Foundation and its affiliated companies—totaling 15 entities—when submitting data for the designation of large business groups subject to disclosure requirements.
Although the foundation and related companies had been excluded from DB Group’s affiliate list in November 1999 following regulatory changes that eased qualification criteria, the Korea Fair Trade Commission determined that DB Group had continued to utilize them since at least 2010 to maintain control by the founding family and to facilitate private benefit.
The KFTC also concluded that, from 2016 onward, DB Group had established dedicated positions to manage these foundation-linked entities, indicating active control over them.
After conducting its own investigation, the KFTC referred Kim to prosecutors in February, approximately two months before the statute of limitations expires on April 7.
Prosecutors reportedly expedited the case in consideration of the impending statute of limitations, adjusting their broader investigation schedule to process the matter.
AlphaBIZ Paul Lee(hoondork1977@alphabiz.co.kr)
