Breaking News Prosecutors search and seizure of former chairman Hong Won-sik for embezzlement of Namyang Dairy Products

The prosecution has launched a forced investigation into former Namyang Dairy Chairman Hong Won-sik, who was accused of embezzlement worth tens of billions of won.

The Seoul Central District Prosecutors' Office sent prosecutors and officials to more than 10 locations, including former chairman Hong's home and Namyang Dairy's headquarters, today (7th).

Earlier, the prosecution found circumstantial evidence that former chairman Hong spent the company's funds on cemetery management and art purchase, and called the plaintiffs Namyang Dairy Co., Ltd. and former representatives as witnesses to investigate.

In August, Namyang Dairy Co. said it filed a complaint against former chairman Hong and three former executives and employees, saying they suspected of embezzling more than 20.12 billion won in company money.