Yi Whan-woo is a Korea Times journalist primarily covering finance. He writes in-depth articles on macroeconomy and financial markets and previously covered sports, politics, diplomacy and inter-Korean affairs, among others. Feel free to contact him at yistory@koreatimes.co.kr.
Court suspends imprisonment of Hanwha Group chairman
Kim Seung-youn
By Yi Whan-woo
By Yi Whan-woo
A court granted Hanwha Group Chairman Kim Seung-youn, who is serving a four-year prison term on embezzlement charges, temporary parole Tuesday.
The Seoul High Court said it decided to parole Kim until March 7 as the 60-year-old tycoon had a “serious health condition.”
The decision came after the chairman of one of the country’s largest conglomerates failed to appear at an appeal hearing Monday.
Kim has spent his time in a cell since August when a Seoul district court sentenced him to prison and a fine of 5.1 billion won ($47 million) after finding him guilty of embezzling billions of won from his company.
Kim’s aides said their boss’s health had worsened recently and he was experiencing difficulty in breathing.
He had been given permission by the court to undergo medical treatment at a hospital in Seoul in the past weeks after he lost consciousness. He requested bail in early December for health reasons but the court rejected this.
“His difficulty in breathing is attributed to an abrupt gain in weight because of depression and other symptoms include diabetes and hypoxia,” an aide said. “It’s possible he could pass away while sleeping and intensive medical care is definitely required at the moment.”
The court, however, said it will still restrict Kim’s movement to his house in Seoul and the two hospitals, including the one he is currently staying in, that he regularly visits for treatment.
His parole will end when he is released from hospital.