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Photo: Hyun-sang Cho |
[Alpha Biz= Paul Lee] Hyun-sang Cho, Vice Chairman of HS Hyosung, failed to appear for questioning scheduled on July 21 by South Korea’s independent special counsel investigating allegations involving First Lady Kim Keon-hee.
According to an official media notice released by the office of Special Prosecutor Min Jung-ki, Cho was summoned for questioning at 10 a.m. on July 21. However, citing an overseas business trip, Cho requested a one-day postponement to July 22. As of now, no confirmed date for his return or rescheduled appearance has been provided.
In a statement released the same day, HS Hyosung said, “As previously reported, Vice Chairman Cho is currently overseas presiding over the third meeting of the APEC Business Advisory Council (ABAC) as chairperson. Due to these duties, rescheduling the summons was unavoidable. We intend to fully cooperate with the investigation moving forward.”
Cho had initially been notified of the summons on July 17. His legal team requested a change due to his participation in the Asia-Pacific Economic Cooperation (APEC) meetings in Vietnam, resulting in a deferral to July 21.
Meanwhile, the special counsel team is investigating a KRW 3.5 billion (approx. USD 2.5 million) investment made by four HS Hyosung affiliates in IMS Mobility, a company whose largest shareholder is a known associate of First Lady Kim.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
