Chun Doo-hwan's eldest son, Jeon Jae-guk, has been unable to serve as the head of the company he effectively controlled after he stepped down after promising to pay the debt to the state. The court suspended Mr. Jeon from his duties, saying that he had caused great damage to the company by spending the money personally.

Reporter Kang Cheng-wan covered it.


In 2013, Chun Doo-hwan's eldest son, Jae-guk, donated a 51 percent stake in BookPlus, a book distributor, to the state in the name of collecting a penalty from Chun Doo-hwan and stepped down as CEO.

[Jeon Jae-guk/Chun Doo-hwan's eldest son (September 2013, 9): We will cooperate as much as possible so that the authorities' redemption process can be completed smoothly until the penalty is fully paid....]

The stake, which was handed over to the public auction, was auctioned off to Mr. Yu Mo in May 10.

Then, Mr. Jeon suddenly increased his stake in a rights issue, maintaining control and returning to the position of CEO.

The fact that he privately spent more than 2019 million won on the company's corporate card for four years even when he was not the CEO was also revealed by an SBS report three years ago.

Mr. Yu, the majority shareholder, filed an application for a temporary injunction against Mr. Chun last year to suspend him from his duties as CEO, which the court accepted.

It was based on the fact that Mr. Jeon caused damage to the company by lending more than 5.4 billion won to his close associate, Mr. Kim Mo, a director of Bookplus, and his subsidiaries in an unlawful manner, and spent more than 1 million won on room salons, golf courses, and overseas travel expenses with a corporate card from 3 ~ 14.

The court said that Mr. Jeon's act of betrayal constitutes grounds for dismissal, and in particular, the unlawful use of large sums of money constitutes the crime of embezzlement, which may lead to an investigation by the prosecution if charges are filed in the future.

(Video Interview: Yang Ji-hoon, Video Editing: Yoon Tae-ho)