Ex Kumho Asiana chair sent back to jail on 10-year sentence on multiple corruption charges

[Photo by MK DB]

Park Sam-koo, former Kumho Asiana Group chairman, was sentenced to 10 years in prison Wednesday on charges of embezzling company funds, breach of trust and fair trade law violation as the first court agreed with the prosecutors’ findings. The 77-year-old Park, who was out on bail in November last year, was immediately sent back to the detention center after the ruling. The court decided to impose 10-year imprisonment on Park, considering the unfair transactions to regain control over the group hampered corporate soundness and transparency. He was indicted for withdrawing 330 billion won ($252 million) from Kumho’s four affiliates in 2015 and selling Asiana Airlines’ entire stake in Kumho Terminal to Kumho Buslines at cheaper prices to aggravate losses for Asiana.

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