The court requested that broadcaster Park Soo-hong's elder brother and his wife, who have been indicted on charges of embezzling his grants and other income, explain the process of their wealth formation in detail.
On the 13th, the Seoul High Court's Criminal Division 7 conducted the sixth appellate hearing for Park Soo-hong's elder brother Park and sister-in-law Lee, who have been charged with violations of the Act on the Aggravated Punishment of Specific Economic Crimes (embezzlement). The hearing was attended by the couple and their legal team, as well as Park Soo-hong's attorney.
The court noted, "Looking at the wealth formation results of Park Soo-hong and the Park couple, Park Soo-hong does not appear to have acquired any significant real estate or increased his financial assets apart from the 50% equity in the Magok commercial building." It continued, "The Park couple has acquired four properties, repaid debts on existing properties, and taken out several insurance policies." It added, "I would like both parties to clarify in detail how the discrepancy in their asset status arises."
The court remarked, "It seems that the main source of income was almost entirely from Park Soo-hong's entertainment activities," and asked, "Could you explain why there is a difference in the degree of wealth formation between both parties based on this revenue?"
Park is accused of embezzling tens of billions of won from company funds and his brother Park Soo-hong's money while managing his younger brother's affairs from 2011 to 2021. The first trial found him guilty of embezzling 2 billion won of company funds but acquitted him of the charge of mishandling 1.6 billion won of his brother's money. His sister-in-law Lee, who was indicted for her involvement in some of the embezzlement, was found not guilty. Both Park and Park Soo-hong have appealed the first trial ruling.
Earlier, Park Soo-hong said during the trial, "Ignorance was my fault, but when the lid was lifted, it was horrifying to the point of wanting to die," adding, "100% of the revenue was supposed to be mine, but my brother received a higher salary, and all the assets were in his and his wife's names." He continued, "I had to cancel my insurance because I had no money to pay the jeonse deposit. I saw that I had 33.8 million won left in my bank account."
On that day, the Park couple acknowledged the embezzlement of 2 billion won of company funds for which they were convicted in the first trial. However, a dispute remains regarding the 1.6 billion won withdrawn from Park Soo-hong's personal account. The seventh appellate hearing is scheduled to take place on Aug. 20.