South Korea court upholds prison sentence in Hankook embezzlement case

Seoul — South Korea’s Supreme Court has issued a final ruling in a long-running case involving executives linked to Hankook Tire & Technology, according to a stock exchange filing by the company.

In a disclosure published 8 May, Hankook said the court sentenced its former chairman Cho Hyun-bum to two years in prison.

Charges include "occupational embezzlement, occupational breach of trust and receiving bribes through breach of trust," it said.

The filing stated that the confirmed amount tied to the case was KRW1.67 billion (€95 million), equivalent to 0.01% of the company’s equity capital.

Hankook also disclosed that another individual, identified as “Mr Park,” was involved in the case.

Park currently serves as a non-registered executive at Hankook but was not employed as an executive when the alleged misconduct occurred.

According to the filing, Park received a prison sentence of one year and six months for "occupational breach of trust and instigation of evidence concealment."