Hong Won-sik, former chairman of Namyang Dairy Products, is arrested and prosecuted...'20 billion won in embezzlement and breach of trust'

The prosecution handed over Hong Won-sik, former chairman of Namyang Dairy Co., to trial on charges of embezzlement and breach of trust worth 20 billion won.

The Fair Trade Investigation Department of the Seoul Central District Prosecutors' Office indicted former chairman Hong today (16th) on charges of embezzlement, breach of trust, and violation of the Food Labeling and Advertising Act.

Former chairman Hong is accused of embezzling and betraying 21.7 billion won by inserting a conduit company to raise funds for his relatives' living or using a villa and vehicle owned by Namyang Dairy Corporation privately.

Former chairman Hong is also accused of announcing that Namyang Dairy Lactobacillus products had antiviral effects in 2021 and ordering them to remove evidence when the investigation began.