Yoon Kwan, the eldest son of the LG family, is accused of fraud."4,000 50,000 won bills" in cash?

[News FM Lee Ik-seon Choi Soo-young Issue & People]

□ Broadcast date and time: October 31, 2024 (Thursday)
□ Host: Lee Ik-seon, Choi Soo-young
□ Performers: Lawyer Kang Jeon-ae, Lawyer Jang Yoon-mi

* The text below may differ from the actual broadcast content, so please check the broadcast for more accurate information.

◇ Profit line: Let's change the issue. Yesterday, the prosecution conducted a search and seizure at home and office in Hannam-dong, Seoul, against the head of the LG Welfare Foundation and the foundation. I wonder why.

☆ Jang Yoon-mi: The fact that the search and seizure were carried out on a certain house of the chaebol family seems to have basically caught the charges clearly and received a warrant. First of all, the allegations that the prosecution is looking into regarding the LG Welfare Foundation CEO Koo Hyun-kyung and the foundation have been provided with undisclosed important information regarding the paid-in capital increase of KOSDAQ listed companies. Because they are basically people with fairly high access to information. The core of the current charges is that the chaebol work and whether they monopolized a factual relationship that was not properly disclosed to the general public and used it to profit from stock prices. However, usually houses and company vehicles and mobile phones are subject to this search and seizure, so it has been reported that the seizure and search of the house and the office have been carried out now.

★ Kang Jeon-ae: To be more specific, there was a search and seizure yesterday, and this is a violation of the Capital Markets Act. Article 174 prohibits the use of undisclosed material information for trading in specific securities in relation to the business of this listed corporation, but to put it simply, undisclosed information should not be known. It means that other people shouldn't know.

◆ Choi Soo-young: That's right. You're disrupting the market order.

★ Kang Jeon-ae: But in the case of CEO Koo Hyun-kyung, there is a company called A that has this problem. It's a bio company. He personally bought 30,000 shares of Company A. But this company A's stock suddenly jumped. It was about 18,000 won per share, but it went up to 50,000 won as of September last year.

◆ Choi Soo-young: Right after the purchase.

★ Kang Jeon-ae: That's right. So the situation is that this company A. It raised 50 billion won from a company in Silicon Valley through a paid-in capital increase. It's a company that develops new drugs for treatment of rare heart diseases. In the meantime, it was a little financially difficult, but with 50 billion won being invested, it's like a press release. If you succeed in attracting large-scale investment, stocks usually jump in price. But the problem is that the representative of the Silicon Valley investment company I told you about is CEO Koo Hyun-kyung's husband. My husband, Yoon Kwan, runs an investment company, and the company invested 50 billion won in the bio company A. But then what the prosecution is looking at now is that our company will invest in Yoon Kwan's wife and spouse, CEO Koo Hyun-kyung. This is a company worth investing in. Didn't you tell this story? Then our people don't know this. This is undisclosed information. Using this undisclosed information, he bought 30,000 shares until the 18,000 won stock went up by 50,000 won. So, the Financial Supervisory Service checked this and handed it over to the Financial Services Commission, and the Financial Services Commission notified the prosecution, but the prosecution does not have to start an investigation immediately when it is notified. But civil society organizations found out about this and filed a complaint. The Southern District Prosecutors' Office eventually launched a search and seizure yesterday.

◆ Choi Soo-young: Actually, the reason we see this a little unusual is because it's an unfamiliar scene that we've never seen the seizure and search of the heads of the top 10 conglomerates like this. Although this is a real charge of violating the Capital Markets Act, it is a really serious issue, and it is interpreted that the financial authorities and our prosecution are looking at it.

☆ Jang Yoon-mi: So it seems that a warrant has been issued, and usually, the issuance rate of warrants for the seizure and search of houses and residences converges to 99%. The court almost issued it, so the court was aware of the problem and asked the prosecution to at least explain it and call the person concerned to change the procedure so that we could hear their opinions, but the prosecution is very opposed to it. So anyway, the warrant was issued, but as you pointed out now, I think it has substance. The other one is hard to prove. So, the reason why it is difficult to prove stock price manipulation is that there are basically a lot of market participants. It's a part of that. Who is disturbing the market? However, if you look at the indictment on the alleged stock price manipulation, the prosecution must prove when and how much it affects the stock price manipulation and how much profit it has made. Then, in order to solve this puzzle, is there a reason for acquiring undisclosed information related to stock price manipulation? Then, is the trace in the office or at home? We have to look at these parts first, and if so, did it actually affect the stock price? Do you have that connection? How much did you earn after looking into relationships? For that money, I have to pay how much profit I have in my hands, so the sentence is quite high. Basically, capital markets all have to participate in fair situations, and that's the basic law of the real game, and I think it shook it to disrupt the market, so if the amount exceeds 100 million units, a prison sentence comes out in this placenta.

◇ Interest line: I see. Yoon Kwan, CEO of Blue Run Ventures, the husband of CEO Koo Hyun-kyung and the eldest son of LG family, has also been accused of fraud recently.

★ Kang Jeon-ae: It is also known that Yoon Kwan, CEO of Blue Run Ventures, is now accused of fraud on charges of not paying 200 million won back to his friend to his elementary school classmate. Not only that, but there are a lot of gossip now. Also, the person who sued for fraud is an elementary school classmate, but he's a bit of a celebrity. This is Cho Chang-hyun, the grandson of the founder of Sambu Construction. They are known to be alumni of an elementary school, and in 2016, in the process of selling the site of the Renaissance Hotel owned by Sambutogun, the company invested by CEO Lee Yoon-kwan was selected as the buyer. So, as I mentioned earlier, CEO Yoon Kwan is a person who runs an investment company in Blue Run Ventures, or the United States. So, the company invested here was selected as the acquirer, and Cho Chang-hyun, the grandson of Sambutogun, has now filed a complaint against CEO Yoon on fraud charges, saying he did not receive it back after lending him 200 million won with 4,000 copies of 50,000 won.

◇ Lee Ik-seon: It's cash.

★ Kang Jeon-ae: Yes, that's right. It was 4,000 sheets of 50,000 won, but there was already a civil lawsuit with the same contents. As a civil lawsuit, I filed a lawsuit for the return of the loan in November last year and asked to return 200 million won, but the first trial court at the time has not fully disclosed the ruling. It is difficult to say that the evidence claimed by the plaintiff alone lent 200 million won to the defendant, and in fact, CEO Yoon Kwan won the first trial. On the plaintiff's side, in the case of Cho, he rather lost. So, for now, an appeals court is in progress, but those parts seem to be at issue, whether the 50,000 won of 4,000,000 won lent or given money or whatever purpose.

◇ Profit line: Don't you have to do a bank transaction to receive it?

★ Kang Jeon-ae: That's right. There may be such a part, and I think there was a lack of evidence on such things as receiving some interest if this is the money lent.

◆ Choi Soo-young: But there's a lot of controversy over CEO Lee Yoon. Recently, suspicions have been raised several times in the National Tax Service's audit, and first, there was a suspicion of tax avoidance, and Park Sung-hoon, a member of the People's Power, said, "St. Kitts and Nevis," where representative Yoon is also a tax haven, is a very unfamiliar country name. I'm asking if there have been reports of trying to acquire this nationality, but there are many cases of going to a tax evasion place for the purpose of tax evasion, right?

☆ Jang Yunmi: Correct. But I think this is still at the level of suspicion, but this person continues to have legal issues related to taxation. In fact, I was charged 12.3 billion won in income tax. It's a huge amount from our customs office. We're arguing about that, too. The reason for the argument is that I am a citizen of the United States, so why are you taxing me based on my resident status when I live in Korea for less than a month a year? This is why it's a lawsuit. And basically, chaebol families have a lot of issues like inheritance tax and gift tax. In the case of Samsung, all inheritance taxes were paid in kind in pictures. It's a huge amount of money. So, when we ask for advice, some people ask about immigration if we have a lot of money to inherit. This is realistic because almost half of it depends on the taxable section, but if the amount of money you inherit is around 10 billion won, you have to pay a lot. In this context, this person was actually St. Kitts and Nevis who was questioned by the National Assembly. It's my first time hearing it.

◆ Choi Soo-young: No, this is a country like this.

☆ Jang Yoon-mi: I'm not sure. There are reports that he was trying to acquire nationality, so this is real or real, and this person also has a taxation issue, but he acquired nationality a little wrong. Since there is also an issue that there is an illegality, then is this just a media report and just a suspicion? It seems that lawmakers have asked about the pending issues that do not seem to be the case.

◆ Choi Soo-young: What's been revealed, so it's not proven.

★ Kang Jeon-ae: But if you look at the income tax law now, we have an address in Korea or we have 183 days, which is about half of 365 days a year. You have to live in Korea for at least 183 days to be considered a resident and stay in Korea for at least 183 days to be subject to comprehensive income tax. So, from CEO Yoon Kwan's point of view, I'm not a person who stays in Korea for about 183 days a year, so why are you imposing comprehensive income tax on me like this? What the Gangnam tax office says now is that CEO Yoon Kwan's stay in Korea exceeds 183 days, including the business trip period, which is a temporary departure. And the period of stay is deliberately managed according to the reference point of 183 days. They are now claiming that there are circumstances in which they are managing below 183 days to avoid paying income tax. So these parts are also controversial, and there are talks about his nationality as St. Kitts and Nevis, but in the past, there was also a suspicion that he acquired Guatemalan citizenship first and then U.S. citizenship based on that, so the head of the Military Manpower Administration answered this. It is known that the Ministry of Justice is checking it.

◆ Choi Soo-young: The production team looked it up right now. St. Kitts and Nevis is an island country in the East Caribbean Sea, near Cuba. Anyway, it's a country that everyone here has never heard of.

★ Kang Jeon-ae: CEO Koo Hyun-kyung is the representative of the LG Welfare Foundation, which is now headquartered in Pyeongtaek, Gyeonggi-do. That's why the residence... Now Seoul's home in Hannam-dong has been raided this time. If so, it seems to be going back and forth between his home in Hannam-dong and the LG Welfare Foundation in Pyeongtaek, and CEO Yoon Kwan said earlier that this is a Silicon Valley investment company that runs an investment company. So it seems that they are working mainly in the United States.

◇ Interest Line: St. Kitts and Nevis has a population of 51,100 people.

◆ Choi Soo-young: It's a tax evasion place.

◇ Proficiency line: A private acquaintance who received financial support from CEO Yoon Kwan for a considerable period of time, including his children's tuition, revealed while investigating the alleged tax evasion. This is Mr. A, the wife of a famous celebrity. You're very hot online in that you're a celebrity's wife.

☆ Jang Yunmi: Correct. In fact, the first thing to be known in the media was related to this issue when CEO Yoon Kwan's name was known first. The children of a celebrity's wife attended a foreign school first, and the tuition is very high, but it does not appear to have been covered by themselves. He said he received the funds from someone, but he didn't start with school fees, but as you said, there are suspicions about taxation of CEO Yoon Kwan and some tax evasion, so I looked at where the funds flowed, and why did he enter this school? I saw it like, "Why did I pay this fee to a foreign school?" It is because the part that is paying attention to entertainment news is a hot topic in itself, but what is legally meaningful is that he has little connection in Korea and said he should stay abroad more for business, but what stage and relationship is it with private acquaintances? If so, the tax office is looking into the context of whether there is no base in Korea or the contents of his defense claim are shaken.

★ Kang Jeon-ae: It is known that the part where the money is now is that CEO Yoon Kwan directly transferred the tuition to an international school in Jeju. And there is an apartment in Seongnam, which is run by CEO Yoon Kwan. The company bought an apartment and the company offered this house to other celebrity families.

◆ Choi Soo-young: To be able to live.

★ Kang Jeon-ae: Yes. That's what happened. However, it is said that there was a relationship that could be seen as a business partner externally. However, there seem to be some questions about what the customs office has done together, and even if you are a business partner, you can usually share the profits or directly deposit the money to the celebrity's wife. The form of salary will be like this, but there are parts where you went to the international school and rented a house, and there are parts where you rented a house that you own in your company, so this part is a little questionable.

◆ Choi Soo-young: Just hearing what you two said, I think it's an issue that will attract a lot of public attention and attention.

◇ Lee Ik-sun: The wife of the celebrity, I heard that the celebrity is 'devastated', right?

☆Jang Yunmi : As it is known now.

◇ Lee Ik-seon: I understand he's dead. I need to wrap this up. Let's stop here. Today, we were joined by lawyer Jang Kang Jang Yoon-mi and lawyer Kang Jeon-ae of the current affairs restaurant. Thank you both.

◆ Choi Soo-young: Thank you.