SPC Group Chairman Heo Young-in, who was accused of selling his affiliate Mildawon shares at a low price for the purpose of avoiding gift taxes, has been acquitted.
The Supreme Court today (12th) confirmed the lower court's acquittal of Chairman Huh, former SPC Group general president Cho Sang-ho, and CEO Hwang Jae-bok, who are suspected of breach of trust.
The Supreme Court said there was no fault in the judgment of the lower court that it was beyond the limits of liberalism or misunderstood the law.Chairman
he welcomed the decision, saying that the transfer of shares of Mildawon was legal immediately after the sentence, and that it was a measure that benefited the company by improving its governance structure.Chairman
He and others were put on trial in 2012 on charges of selling Mildawon shares of its affiliates at a low price at Samlip to avoid gift tax, causing damage to other affiliates, and giving unfair gains to Samlip.
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