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Chung Yong-jin |
A Seoul court on Thursday imposed a 15 million won ($13,400) fine on the vice chairman of Shinsegae Group for not attending parliamentary audits over the company’s alleged infringement of business rights of small retailers.
Chung Yong-jin, 45, the vice chairman of the country’s second-largest retail conglomerate, was found guilty of not responding to the government’s call to appear at the hearings and audits of the National Assembly between October and November of last year, citing different reasons such as overseas business trips.
The audits were held as part of the government’s drive to probe into large conglomerates’ dominant power over struggling small retailers and traditional marketplaces in the retail sector.
In January, prosecutors asked for a summary indictment and sought 7 million won in fines against Chung as well as three other heads of the country’s major retail giants ― Chong Ji-sun, the chairman of Hyundai Department Store Co; Shin Dong-bin, the chairman of Lotte Group; and Chung Yu-kyuang, the vice president of Shinsegae Department Store.
Rejecting the prosecution’s request, the Seoul Central District Court ordered the four to stand trial.
Last week, the Hyundai Department chief received a 10 million won fine for the same charge while the sentencing trials for the other two heads are scheduled for next week.
As part of efforts to protect mom-and-pop stores and traditional marketplaces stung by the loss of customers to more competitive big retailers, the Cabinet earlier this week decided to slap higher fines on large retailers for violating rules on reduced operating hours. (Yonhap News)
