A Korean shareholder group said on Aug. 5 that it had filed criminal complaints against the chief executives of Samsung Electronics and SK hynix, accusing them of breaching shareholder trust over bonus payments that it said were not governed by a collective bargaining agreement. Police have begun investigating the case.
The group, identified as the Korea Shareholder Movement Headquarters, said the cases involving the CEOs of Samsung Electronics and SK hynix had been transferred to the first and second investigation divisions of the Gyeonggi Nambu Provincial Police Agency under the Act on the Aggravated Punishment of Specific Economic Crimes.
According to the group, it had already submitted a complaint on the 22nd of last month to the National Office of Investigation of the Korean National Police Agency. The complaint names Samsung Electronics co-CEOs Jun Young-hyun and Roh Tae-moon, along with SK hynix CEO Kwak Noh-jung. The group argues that the executives agreed to bonus payments without sufficiently reviewing labor-management agreements and created a payment mechanism that unreasonably consumed corporate assets.
BlockBeats reported on Aug. 5 that a Korean shareholder group had filed criminal complaints against the CEOs of Samsung Electronics and SK hynix, alleging breach of shareholder trust in connection with bonus payments that were not subject to a collective bargaining agreement. Police have opened an investigation.
The group, called the Korea Shareholder Movement Headquarters, said the cases involving the CEOs of Samsung Electronics and SK hynix had been referred to the first and second investigation divisions of the Gyeonggi Nambu Provincial Police Agency under the Act on the Aggravated Punishment of Specific Economic Crimes.
The group said it had submitted a complaint on the 22nd of last month to the National Office of Investigation of the Korean National Police Agency, naming Samsung Electronics co-CEOs Jun Young-hyun and Roh Tae-moon, as well as SK hynix CEO Kwak Noh-jung. In the group’s view, the executives agreed to bonus payments without sufficiently reviewing labor-management agreements and set up a payment mechanism that unreasonably consumed company assets, which it said constituted breach of trust.
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