The prosecutors said on Monday: “The defendant damaged the capital market’s foundation for the group’s succession… The ruling in this case will serve as a reference point for restructuring chaebol companies, [which is a large, family-controlled business conglomerate in South Korea], and accounting in the future.”
If the defendants are granted leniency, the merger will be carried out in a manner that prioritizes their interests by resorting to unlawful and expedient means without hesitation, the prosecutors added.