Hong Won-sik, the former chairman of Namyang Dairy Products, is facing possible detention on the 25th due to charges of embezzlement and breach of trust. On this day, Nam Chun-kyu, the judge in charge of warrants at the Seoul Central District Court, will conduct a warrant review for Hong at 10:30 a.m. regarding his alleged violation of the Act on the Aggravated Punishment of Specific Economic Crimes (breach of trust). The warrant review for Park, the former head of the research institute accused of receiving bribes, is scheduled for 10 a.m.
Hong is accused of causing damages amounting to about 10 billion KRW by unnecessarily inserting companies operated by his relatives into business dealings while managing Namyang Dairy Products. He is also suspected of appointing a supplier’s representative as an auditor for the company, receiving kickbacks from salaries, misusing corporate credit cards for personal purposes, and accepting tens of billions of KRW from suppliers as payment for transactions.
Earlier, Namyang Dairy Products filed a lawsuit in August against Hong and three former employees on charges including embezzlement and receipt of kickbacks. Hong was summoned for questioning by prosecutors on the 18th and 21st as a suspect.