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Former president of public broadcast station was on trial for dropping a lawsuit and settling with the National Tax Service, which resulted in 189 billion won loss
The Korea Times
Tuesday, August 18, 2009
By Kang Shin-who
A Seoul district court acquitted former KBS President Jung Yun-joo of breach of trust charges Tuesday. He was charged with causing 189 billion won in losses to the public broadcaster by dropping a lawsuit in which the company sought a corporate tax refund.
The Seoul Central District Court said Tuesday that it was uncertain whether the broadcaster would win the suit even if it were to appeal to a higher court.
"Although KBS might have won the lawsuit, there would remain the possibility that tax authorities could impose corporate tax after further investigation. Also, the court initially advised Jung to make an agreement with the tax agency and there is evidence that Jung decided to drop the suit after collecting inside and outside opinions," it added.
In January 2006, KBS settled with the National Tax Service on a refund of 50 billion won, though it had a chance of winning a larger amount. The prosecution said that Jung dropped the suit in order to make up for losses using the settlement to cover up his poor management. Jung was reappointed to his position in November of that year.
Date Posted: 8/18/2009
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