Judgment Collects More of Disgraced Ex-President's Fine

      May 19, 2016 11:09

      Chun Doo-hwan

      The Seoul Central District Court on Wednesday ordered a company owned by Chun Doo-hwan's son to pay part of the disgraced ex-president's fine for corruption in office.

      Libro, a bookstore chain owned by Chun's eldest son Jae-kook, is to pay W2.46 billion to the state over the next seven years at a rate of W360 million a year (US$1=W1,186).

      Libro took out a loan from a bank using collateral owned by Chun's sons Jae-kook and Jae-yong. The property was confiscated by prosecutors and sold for W8.1 billion last year, and Libro had to return W2.56 billion to the Chun brothers.

      Prosecutors had sought to collect the money directly from Libro as part of Chun's unpaid fine of more than W200 billion.

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