Chaebol leaders above the law

Posted on : 2012-02-15 10:58 KST Modified on : 2019-10-19 20:29 KST
Despite a flurry of sentences, conglomerate leaders manage to avoid time behind bars

By Han Gwang-deok, Senior Staff Writer
 Not one of the top ten conglomerate heads sentenced to prison since 1990 served time, according to an analysis by Chaebul.com. All were eventually pardoned on the pretext of “saving the economy.”
 The study‘s results, released Tuesday, found that seven heads from among the top ten conglomerates in terms of assets were sentenced to a collective total of 22 years and six months in prison since 1990, but all were given suspended sentences. In contrast, just 25% of people from the general public received suspended sentences in criminal cases last year.
 Also, the period of time between the sentence confirmation and the pardon for the conglomerate heads averaged just over nine months. The figures show courts exonerating the corporate leaders for various reasons with every trial, and the government generally restoring their standing and authority within less than one year of a confirmed guilty verdict.
 In August 1996, Samsung Group chairman Lee Kun-hee was sentenced to two years in prison suspended for three years for involvement in a slush fund for former President Roh Tae-woo. In August 2009, he was sentenced to three years in prison suspended for five years following attorney Kim Yong-chul’s declaration of conscience.
 Hyundai Group chairman Chung Mong-koo was sentenced to three years in prison suspended for five years in June 2008 for causing damages to affiliates through a slush fund and embezzlement. He was pardoned just 73 days later.
 SK Group chairman Chey Tae-won was sentenced to three years in prison suspended for five years in May 2008 for a case involving accounting fraud at SK Global, with his pardon coming 78 days later.
 Hanjin Group chairman Cho Yang-ho was sentenced to three years in prison suspended for five years for embezzlement and breach of trust in June 2000.
 Hanwha chairman Kim Seung-yeon was found guilty of violating the Foreign Exchange Control Act in January 1994, and convicted of assault in September 2007. He was released with suspended sentences both times.
 The Doosan Group‘s former chairman Park Yong-sung and current chairman Park Yong-man were each given suspended sentences in July 2006 for embezzlement and other crimes, only to be pardoned around six months later.
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