Hyundai Department head fined for missing hearings

A Seoul court on Thursday imposed a 10 million won ($8,870) fine on the chairman of Hyundai Department Store Co. for missing parliamentary audits over the company’s alleged infringement of business rights of small retailers.

Chung Ji-sun, 41, the chief of the country’s third-largest department store chain, was found guilty of not responding to the 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 summary indictment and sought 4 million won in fines against Chung as well as three other heads of the country’s major retail giants ― Chung Yong-jin, the vice chairman of Shinsegae Group; 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 Chung to stand trial.

The sentencing trials for the other three heads are scheduled for later this month. (Yonhap News)