The prosecutor who arrested himself became an external director…
Lobbying efforts through large law firms
Circumstances were caught that the former chairman of Ssangbangwool Group Kim Seong-tae, who is fleeing abroad, is trying to appoint a big law firm to lobby the political and legal circles. A number of former officials, including outside directors of the Ssangbangbang Group’s legal profession, are said to have played a role in getting former chairman Kim and the law firm involved in this process. The outside director system, which was created to ensure transparency of the main shareholder’s control, was used as a shield for former Chairman Kim. According to a Hankook Ilbo report on the 20th, former chairman Kim began contacting behind the scenes to appoint a major law firm as the prosecution’s investigative network narrowed even after leaving for Singapore in May. Former Chairman Kim embezzled and betrayed the company’s money.
