 |
Cho Hyun-bum, Chairman of Hankook Tire & Technology (Photo = Yonhap News) |
[Alpha Biz= Paul Lee] SEOUL, South Korea – The appellate trial of Cho Hyun-bum (53), Chairman of Hankook Tire & Technology Co., Ltd., has commenced following his conviction in the first trial for embezzlement and breach of trust totaling more than KRW 20 billion. In May, Cho was sentenced to three years in prison and was taken into custody immediately after the ruling.
On August 11, the Seoul High Court’s Criminal Division 13, presided over by Judge Baek Kang-jin, held the first preparatory hearing for Cho, who appeared in court wearing a beige prison uniform. Cho’s legal team argued that the lower court had “misinterpreted evidence” and made “speculative judgments on matters insufficiently examined,” which form the basis of their appeal.
The defense plans to present its case over three separate hearings, focusing on allegations that Cho:
Illegally supported MKT, a Hankook affiliate, by purchasing tire molds at inflated prices between 2014 and 2017,
Lent KRW 5 billion from MKT to Hyundai Motor supplier Rihan without proper collateral,
Used KRW 755 million in company funds for personal expenses, including furniture purchases for his residence.
The first trial found Cho guilty of partially breaching trust in the MKT mold purchase case (six months) and of other embezzlement and breach of trust charges (two years and six months), resulting in a combined three-year sentence.
The appellate court indicated it aims to conclude proceedings before Cho’s detention period ends in late January 2026, avoiding the need for bail or release during the trial. The court will proceed with presentations, witness examinations, and evidence reviews in the coming months.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
