HDC Holdings Co., Ltd. (012630) chairman Chung Mong-gyu denied affiliate reporting charges at his first trial hearing Friday. Dailian reported that his lawyers contested the allegations at the Seoul Central District Court.
Prosecutors allege that submissions to the Korea Fair Trade Commission omitted 20 companies owned by his relatives during 2021–2024. The submissions identified companies belonging to the group for designation under rules restricting cross-shareholdings between large business groups.
Chung's lawyers said he did not control the companies and that most operated independently without his knowledge of their names. The company's market capitalisation was ₩1.4 trillion at Friday's close.
kstock reads DART every morning and writes up what moved — the contract, the buyback, the number that does not add up. The daily post and a Saturday roundup, by email.
| Symbol | Last Price |
|---|---|
| 012630HDC Holdings Co., Ltd. | ₩22,650 +0.2% |