Press Coverage

Full Re-Examination of Financial Support and Sales Information Use Demanded"Redesign of Compliance System Unavoidable" Following the so-called 'Myungryundang incident,' in which allegations were raised that high-interest loans had recently been provided to franchisees using policy funds, the financial authorities and the fair trade authorities have significantly strengthened their management and supervision standards for the franchise industry.The Financial Services Commission and the Fair Trade Commission recently announced measures to prevent recurrence, deciding to block the franchise headquarters' circumventing financial support structures while also strengthening post-inspection and maturity-extension review standards.Attorney Son Gye-jun of Daeryun LLC cited as the core of this measure "the point that the supervisory agencies' judgment standard has shifted from the form on the contract to the actual flow of funds and control structure." Until now, when the franchise headquarters and the financial support entity operated as separate corporations, applying regulation was not easy, but from now on, the source of funds, the interest-rate determination process, and the operational reality will be comprehensively examined to judge whether they are, in effect, the same economic community, he explained.Accordingly, in the franchise industry, the method of providing financial support using affiliated companies is emerging as a major legal risk factor.Attorney Son pointed out, "Even if the franchise headquarters operates a financial program through an affiliate, if it is confirmed that it substantially controlled the interest rate or repayment conditions, liability for violating the Lending Business Act and the Franchise Business Act may become an issue."To prevent this, he advised that the financial support review and fund execution process should be managed separately from the sales organization, and that the interest-rate calculation standard should also establish an objective system linked to market indicators.The issue of using franchise sales information (POS data) is also emerging as a new regulatory issue.Some franchises operate loan repayment or settlement systems using franchise sales information, but if the relevant information is shared with financial companies without the franchisee's clear consent, there is a possibility of violating the Personal Information Protection Act or the Credit Information Act.Attorney Son explained, "Data access rights between the sales organization and the financial company must be clearly separated, and the purpose of data use and the scope of provision must also be specifically stated in the franchise contract and the disclosure document."The industry expects that this strengthening of regulation will also be linked to the Fair Trade Commission's move to strengthen regulation of essential items.In particular, the analysis is that when the financial support and logistics supply structures are combined, the FTC may interpret this not as a simple transaction but as a means of the franchise headquarters exercising dominance.If it is confirmed that essential item purchases were induced on the condition of using a specific financial program, or that a distribution margin was taken, it may be judged an unfair trade practice under the Franchise Business Act, and punitive damages liability of up to three times the amount of damage may arise.Attorney Son emphasized, "Now, it is difficult to block the complex regulatory risks at the level of merely revising contract wording," adding, "The franchise headquarters must comprehensively inspect its funds, data, and logistics operation systems and reorganize its compliance system."He continued, "As the government's supervisory standard has shifted to focus on the actual operational structure, building a preemptive internal control system will be the most effective risk management means."Reporter Jung Ye-jin yejin0311@inews24.com [Read the full article] [Legal Spotlight]➃ Aftermath of the Myungryundang Incident···The Game of Franchise Business Is Changing (Go)

-Legal Column by Son Dong-hoo, U.S. Attorney, Daeryun LLC (Limited)As the inheritance cycle of first-generation Korean immigrants to the U.S. begins in earnest, the paradigm of asset management is rapidly shifting from 'accumulation' to 'succession.' Whereas the challenges of the past focused on local settlement and children's education, now the key topic is how to safely and efficiently pass on a lifetime's accumulated assets to the next generation. In particular, for so-called 'cross-border asset holders' who hold assets in both Korea and the U.S., inheritance and gifting involve complex legal issues beyond simple asset transfer within the family. Ranging from the risk of double taxation by both countries on the same asset to the possibility of criminal punishment for failing to report overseas assets, a lack of sophisticated strategy can directly lead to the loss of asset value. The first practical hurdle one faces is the differing taxation standards of the two countries. The U.S. exercises taxing rights over worldwide assets based on citizenship or domicile within the U.S. If one is a U.S. citizen residing in Korea, one may be subject to taxation in both countries, so it is essential to precisely analyze the scope of taxation and the applicability of the foreign tax credit. However, as of 2025, the federal estate tax exemption limit is about 13.61 million dollars (about 27.22 million dollars for a married couple combined), and actual taxpayers are less than 0.1% of all decedents. That said, with the possible expiration (sunset) of the TCJA at the end of 2025, the exemption limit may be reduced to about half, so advance preparation is necessary.The difference in who bears the tax also acts as a fatal risk. In Korea, the recipient (donee) of the asset bears the tax, whereas in the U.S., the transferor (donor) of the asset bears the tax obligation. As the taxpaying entity itself differs, and there is no inheritance/gift tax treaty concluded between Korea and the U.S., there are frequent cases where double taxation is not fully resolved and the value of assets is impaired.Beyond taxation, administrative procedures and foreign exchange regulations are also barriers that cannot be overlooked. Under the Foreign Exchange Transactions Act, if one omits the reporting obligation for inherited or gifted property, one must be aware that, depending on the case, it can become subject to criminal punishment beyond a mere administrative fine. In the U.S. as well, if one holds Korean financial accounts totaling 10,000 dollars or more annually, a reporting obligation for FinCEN 114 (FBAR) and Form 8938 (FATCA) arises. In case of violation, civil fines of up to 50% of the account balance and criminal punishment are possible, making it one of the most frequently occurring risks in practice.In addition, Probate, the U.S. inheritance certification procedure that proceeds under court supervision and requires considerable time and cost, acts as a substantial administrative burden for the bereaved family. To resolve these multilayered problems, alternatives utilizing 'trusts' have recently drawn attention in legal circles. In the U.S., succeeding to assets while omitting the inheritance certification procedure through a Living Trust has already become common. However, while a Living Trust is effective in avoiding probate, it has no federal estate tax savings effect. If tax savings is the goal, a separate structural design such as an Irrevocable Trust, ILIT, or GRAT is needed.In Korea as well, following the recent Constitutional Court decisions of unconstitutionality and constitutional nonconformity regarding the legal reserve of inheritance (yuryubun) system, a legal foundation respecting the decedent's intent has been established, and demand for customized succession structures such as testamentary trusts is rapidly increasing. Ultimately, the essence of cross-border asset management lies not in simple tax savings, but in establishing an 'integrated strategy' that encompasses the law, taxation, and foreign exchange regulations of both countries. Only sophisticated design that can coordinate each country's procedural characteristics and even recent changes in legal doctrine is the sole path to fully preserving the value of wealth built over a lifetime and safely passing it on to the next generation. Reporter Lee Dong-oh (canon35@mt.co.kr) [Read the full article] The Pitfalls of Korea-U.S. Cross-Border Inheritance···Ignorance Can Lead to Double Taxation and Even Criminal Punishment (Go)

Accused of Following and Embracing a High School Student He Had Never MetProsecution "No Intent to Lure or Molest, and Hard to Conclude Contact Occurred" The prosecution issued a non-indictment disposition to a man in his 50s who had been accused of forcibly molesting a high school girl on a bus.The Seoul Western District Prosecutors' Office on the 12th of last month issued a no-charge disposition due to insufficient evidence regarding A, a man in his 50s, who had been referred on charges of violating the Act on the Protection of Children and Juveniles against Sexual Abuse (forcible molestation).A was accused of approaching B, a girl in her teens, in March, handing her cash and his contact information, boarding the same bus, and embracing B's shoulder area in the process of getting off.A, on the other hand, denied the charges. He argued that he had shown goodwill out of pity, wondering whether B—who was wearing thin outerwear in the cold weather—might be a student in difficult circumstances. He also countered that when getting off the bus, he had merely lightly pushed her back to mean 'get off quickly,' and had absolutely no intent to molest.The prosecution accepted A's argument. It was recognized that although the nighttime temperature on the day of the incident was near sub-zero, the victim was wearing a jumper rather than a padded coat or overcoat, so she could have looked very cold. Decisively, upon checking the CCTV footage inside the bus, there was no scene of embracing her shoulder or trying to drag her, contrary to B's claim, and only a scene of unconsciously pushing her back was confirmed, so it judged that A's statement had credibility.The prosecution also considered the circumstances that A, immediately after returning home, told his spouse, "I gave 50,000 won to a student who looked like my daughter," and that his spouse likewise praised this, concluding that it was difficult to conclude that A had made physical contact with the intent of sexual luring or molestation.Meanwhile, Attorney Kim In-won of Daeryun LLC (law firm), who represented A, said, "In sex crime cases, one must comprehensively judge not only fragmentary victim statements or whether physical contact occurred, but also the specific circumstances leading to the act and the objective situation," adding, "As a result of systematically reconstructing and actively demonstrating the circumstantial evidence that could prove goodwill—such as the weather records at the time of the incident, the CCTV footage, and the conversation with family immediately after the incident—we were able to achieve a good result." jckim99@sportsseoul.com Reporter Kim Jong-cheol [Read the full article] "It's Cold, So I'll Give You Money…" Man in His 50s Who Molested a High School Girl on a Bus 'Cleared of Charges' (Go)

Attorney Jang Ji-woon, Daeryun LLC With the passage of a partial amendment to the Foreign Exchange Transactions Act at the National Assembly plenary session last May, cross-border movement of funds using virtual assets has also come under the direct management and supervision system of the foreign exchange authorities. The core of this amendment lies in newly establishing 'virtual asset transfer business' as a separate registration target under the Foreign Exchange Transactions Act, and imposing an obligation to report related transactions to the electronic network. Overseas remittances and fund movements between overseas exchanges and wallets, which had until now been operated separately from the existing foreign exchange regulatory system, will in effect now be handled within the scope of institutional management.The problem is that a considerable number of companies and operators are responding complacently under the perception that "there is no problem since we completed the reporting under the Act on Reporting and Using Specified Financial Transaction Information (the Specific Financial Information Act)," or that "it is merely a simple wallet transfer." This amendment includes within the scope of regulation not only simple trading and exchange acts but also cases where substantially the same effect occurs. Circumvention transactions using overseas exchanges, stablecoin-based overseas settlements, and OTC (over-the-counter) transfers are all potential regulatory targets. According to Article 27-2, Paragraph 1, Item 1 of the Foreign Exchange Transactions Act, if unregistered business continues without awareness of this, one may face 'imprisonment of up to 3 years or a fine of up to 300 million won.' Virtual assets constituting criminal proceeds from the violation may also be subject to confiscation and collection, so a single incident is a serious risk that can shake the very foundation of a business.Therefore, individuals, companies, and virtual asset operators conducting cross-border transactions using virtual assets must comprehensively re-examine all forms of foreign exchange transactions—such as ongoing overseas investment projects, settlement structures between global corporations, and stablecoin payment systems—based on 'economic substance.' Above all, even companies that have completed their Virtual Asset Service Provider (VASP) reporting under the existing Specific Financial Information Act must never be complacent. If they operate a structure of overseas wallet deposits and withdrawals or stablecoin-based transfers, they must be sure to check whether registration with the Minister of Economy and Finance is required. Along with this, they must closely review the obligation to link to the electronic network with foreign exchange information concentration institutions such as the Bank of Korea, and reorganize a tight compliance system in order to prevent judicial risk.Furthermore, this change is not limited to the strengthening of domestic regulation. In tandem with the stablecoin institutionalization movements in the U.S. and Europe and the global cooperation system of the Financial Action Task Force (FATF), virtual asset regulation is on a trend of expanding into an even tighter international cooperation system. Now, one must consider not only the Foreign Exchange Transactions Act but also anti-money laundering (AML), foreign exchange tax law, and customs regulations together to establish a multidimensional cross-border risk management strategy. As the cross-border transaction environment using virtual assets changes rapidly, meticulous legal review and preemptive compliance building are more important than anything else in protecting assets and business under the strengthened regime. [Read the full article] The Era of 'Criminal Risk' Even for Overseas Transfers of Virtual Assets···The Foreign Exchange Transactions Act Has Changed (Go)

A man in his 20s who had been suspected of deliberately losing weight to evade military service received a non-indictment disposition from the prosecution.According to legal circles on the 15th, the Seongnam Branch of the Suwon District Prosecutors' Office on the 7th of last month issued a non-indictment disposition to A, in his 20s, who had been referred on charges of violating the Military Service Act.A was suspected of artificially reducing his weight in the 2020 military service physical examination in order to become eligible for grade 4 (social service personnel) alternative service.In his first examination, A recorded a body mass index (BMI) lower than the standard and received a disposition-pending judgment. Then, in an examination three months later, he recorded almost the same figure as the first time and received a grade 4 judgment.However, the Military Manpower Administration referred him to the prosecution, viewing that he had deliberately reduced his weight, based on the fact that A's weight increased by more than 5 kg after receiving the grade 4 judgment, and that his elementary, middle, and high school records showed he had steadily maintained a normal BMI.A argued that his weight naturally decreased as he lived irregularly in the process of getting a job and leaving it, so he had merely been underweight even before the examination, and that he had not deliberately lost weight. He also explained that the weight gain after the grade 4 judgment was the result of improving his lifestyle habits for his health.The prosecution issued a non-indictment disposition, recognizing that A's BMI had been maintained below the average for men in their 20s even before the military service physical examination, and that he was physically slight. Although his weight was lower than before at the time of the physical examination, it judged that this was within the range that could decrease due to lifestyle changes. The fact that A was confirmed to have used his card at restaurants on numerous occasions was also considered, making it difficult to conclude that he had deliberately lost weight.Attorney Baek Pyeong-wook of Daeryun LLC, who represented A, explained, "For a violation of the Military Service Act to be recognized, the purpose of evading or being exempted from military service and the intent must be clearly proven," adding, "Thanks to demonstrating, through specific data such as past physical change trends, that the weight loss was a natural phenomenon resulting from irregular lifestyle habits, he was able to clear the unjust charges." Reporter Jung Cheol-wook [Read the full article] Man in His 20s Suspected of Deliberate Weight Loss to Avoid Military Service Not Indicted···"Influence of Lifestyle Changes" (Go)

When the monsoon season begins in earnest, disputes over water leaks surge. This is because there are many cases where water drips from the ceiling, ruining expensive home appliances and hard-worked interior finishes, yet the party responsible—the upstairs unit or the construction company—evades responsibility, escalating into an emotional feud. The longer a water leak is left unattended, the worse the mold and foul odors become, ultimately threatening the health of the residents, so rather than simply waiting, one must take swift and decisive legal action. The first and most important key in a water leak dispute is identifying the source point of the leak. This is because the party to be held legally responsible completely changes depending on where the cause occurred. If the leak stems from a problem in the exclusive-use area, such as aging pipes in the upstairs unit or a defect in interior construction, the owner (or occupant) of the upstairs unit bears liability for compensation. On the other hand, if it is a problem in the common area, such as cracks in the exterior wall or damage to the rooftop waterproofing layer, one must claim defect repairs and damages against the residents' representative meeting, the management office, or, for a newly built apartment, the construction company. Even when the responsibility is found to lie with the upstairs unit, there are quite a few owners who refuse to open their door because they begrudge the repair costs, or who remain uncooperative by saying they will handle it through daily-life liability insurance. In such cases, emotionally cursing or kicking the front door is absolutely forbidden, as it can instead provide grounds for a counter-complaint for insult, property damage, or trespassing. In such situations, sending a certified content-proof letter in the name of an attorney is the most effective first step. Although the content-proof letter itself has no legal compulsion, it becomes a powerful weapon that psychologically pressures the other party and leads to a pre-litigation settlement, by containing an expert's objective leak diagnosis opinion and repair estimate, along with a strong warning that if compensation is not made within the deadline, one will claim not only civil damages but also the resulting litigation costs and delay interest. If the other party ultimately fails to take appropriate measures despite the content-proof letter, one must eventually file a civil damages lawsuit. According to Article 758 of the Civil Act, a person who causes damage to another due to a defect in the installation or preservation of a structure is liable to compensate for that damage. The victim can comprehensively claim not only direct repair costs for soaked wallpaper or flooring, but also replacement costs for damaged furniture and appliances, temporary residence costs for lodging elsewhere during the construction period, and even consolation money for the severe stress. Attorney Song Won of Daeryun LLC said, "The outcome of a water leak damages lawsuit depends on whether it can be objectively proven in court whose fault caused the water to leak. In this process, merely a photo of leaking water is insufficient; accurate appraisal results from an expert appraiser recognized by the court must accompany it," adding, "Therefore, if leak damage occurs, you must immediately and meticulously photograph the site with photos and videos showing the date. Receiving assistance from an attorney with abundant experience in real estate and damages litigation from the early stage, and responding flawlessly from evidence preservation to filing the lawsuit, is the wisest way to protect your property and rights." [Read the full article] In Monsoon-Season Water Leak Disputes, Respond Legally with Objective Evidence Instead of an Emotional Feud (Go)

Charged with Occupational Breach of Trust but Cleared Due to Insufficient Evidence A company employee, A (in his 40s), from Busan, who had been under investigation on suspicion of poaching his former company's clients in the process of moving to a competitor, was cleared of the charges in the police investigation.According to the Busan Sasang Police Station on the 12th, A, an employee of a mid-sized company who had been accused of occupational breach of trust, recently received a decision not to refer the case (to the prosecution).A had been in charge of system maintenance at company B for 20 years before resigning in 2025 and moving to a competitor. In this process, A was accused of inducing existing clients to terminate their contracts with company B, and of leaking information acquired in the course of his work, causing company B damage of about 90 million won per year.However, A completely denied the charges, stating that he had never urged clients to terminate contracts or offered unfair terms before or after his resignation. He argued that the clients had autonomously changed their contracting company, considering factors such as service quality.The police judged that there was insufficient objective evidence that A had urged the termination of contracts with company B. It was also taken into account that some clients, inconvenienced by service response delays that occurred while company B was replacing a skilled employee, had first requested contracts from A's side.In addition, the police judged that the client information A used was already known within the industry and thus was difficult to regard as a confidential trade secret, and that after his resignation he was no longer in a position handling company B's affairs, making it difficult to meet the requirements for the establishment of occupational breach of trust.Attorney Kim Geun-su of Daeryun LLC, who represented A, said, "It is difficult to immediately conclude that a breach of trust occurred merely from the result that clients moved after the job change," adding, "We focused on demonstrating that the clients autonomously chose their contracting party, trusting the individual engineer's practical experience and response capability accumulated over a long period."Attorney Kim continued, "By presenting together the circumstances of declining service response capability and accumulated client dissatisfaction within the complainant company, along with witness statements, we were able to correct the misunderstanding about the circumstances of the client migration."Reporter Baek Jae-hyun (itbrian@newsis.com) [Read the full article] Man in His 40s Accused of 'Poaching Clients While Switching Jobs'···Police Decide Not to Refer Case (Go)

"Hard to Conclude Child Abuse Without Witness Statements" An academy director who had been under investigation on suspicion of verbally abusing and corporally punishing academy students received a non-indictment disposition from the prosecution.The Western Branch of the Daegu District Prosecutors' Office last month made a non-indictment decision regarding academy director A, in his 50s, who had been referred on child abuse charges, judging that proving the charges was difficult.A was suspected of emotional abuse between 2023 and 2025, such as making insulting remarks to three academy students, inflicting physical corporal punishment, and keeping them at the academy until late at night. Earlier, the parents of the victim students filed a complaint, claiming that A's verbal abuse and corporal punishment had been repeated.However, A completely denied the charges during the investigation, to the effect that he had never made problematic remarks and had never hit the students. A's side argued that, looking at the actual evidence and recorded phone calls, it amounted to no more than checking the students' learning progress and attitude and sharing the learning situation with parents through consultations.The prosecution ultimately accepted A's side's argument. The prosecution noted that the other academy students who had been in the classroom at the time of the incident consistently stated that they had not witnessed any verbal abuse or assault. It was also reported that the prosecution judged that the statements of the students claiming harm alone were insufficient to recognize the child abuse charges.Attorney Choi Ji-hoon of Daeryun LLC, who represented A, said, "Based on recorded phone calls with students and parents, and academy students' statements, we specifically organized and submitted the differences between the content of the complaint and the actual situation," adding, "We actively demonstrated that the problematic remarks had also been conveyed differently from their actual context, and that some expressions could not even be confirmed as factual."In this case, although the parents' side filed a criminal complaint claiming there had been continuous verbal abuse and corporal punishment, the prosecution judged that it was difficult to recognize the criminal charges due to reasons such as a lack of objective evidence and witness statements, concluding with a non-indictment.Reporter Hwang Jung-won (garden@sidae.com) [Read the full article] Academy Director Suspected of Verbal Abuse and Corporal Punishment Not Indicted···Prosecution "Insufficient Evidence" (Go)

-Legal Column by Attorney Yoon Kyung-won, Daeryun LLC (Limited)For the CEO who runs a company, trust in employees is the core driving force that leads the organization. Based on this trust, the CEO entrusts work to staff, and in particular delegates considerable financial authority to the employee dedicated to managing funds. However, such trust sometimes returns to the company as irreversible, fatal damage. Looking at the embezzlement cases involving internal employees that have occurred recently, the methods have evolved to be so meticulous and professional that they cannot be compared to the past. A single incident alone can now put the very survival of a company in jeopardy. Embezzlement in the past mostly consisted of one-dimensional crimes such as simply taking cash out of the company safe or transferring money from the corporate account to one's own personal account. Recent embezzlement, however, often takes the form of so-called 'money laundering,' going through multiple stages to avoid detection. In fact, the suspect in a case I represented did not simply send money to his own account. He illegally misappropriated the personal seal of the representative director that was kept at the company, and secretly opened a borrowed-name (nominee) account under the representative's name. He then first transferred the corporate funds to this nominee account, creating the appearance that the representative had legitimately withdrawn the funds. He then sent this money on to the accounts of his acquaintances or to the accounts of fictitious trading partners (paper companies) with no actual transactions, splitting it into small amounts. In the face of such meticulously planned schemes carried out over a long period, most internal audit systems tend to be rendered useless. When funds are concealed through such cunning steps as in the case above, even after recognizing the crime, specifying the scale of the damage and proving the charges is a very difficult task. This is because the financial transaction records are complexly intertwined, and the longer the period of the crime, the more thoroughly the evidence is hidden. At this point, the key that determines the success or failure of resolving the case is persistent fund tracing and digital forensics. When uncovering the flow of funds, one must not look only at fragmentary withdrawal records of the corporate account. Only by densely connecting the complex financial transactions—starting from the corporate account, through the misappropriated nominee account, and to the final destinations of the fictitious trading partners and acquaintances' accounts—as a single line can the entire scale of the embezzlement be grasped. In particular, a situation may arise in which the suspect manipulates the accounting books, forges transaction statements, and then deletes unfavorable evidence to conceal the crime. Therefore, the process of recovering hidden and deleted data through swift digital forensics of work PCs and securing undeniable objective evidence must be carried out in parallel. When you recognize an internal employee's embezzlement, delaying time while overwhelmed by a sense of betrayal, or rashly and emotionally confronting the suspect, becomes a poison that instead provides an excuse for the destruction of evidence. Because recovering embezzled funds is entirely a race against time, securing the golden time is more important than anything else. You must move quickly before the suspect notices and completely converts the funds to cash to hide or squander them. Only by immediately receiving expert assistance the moment a crime is suspected, meticulously collecting evidence, and simultaneously proceeding with swift preservation measures such as provisional seizure and criminal complaints, can you recover even a little more of the company's stolen assets intact. The complacent belief that 'our employee would never do such a thing' is the most fatal weakness in corporate risk management. If an incident has occurred, you must, without hesitation, increase the speed of your legal response and thoroughly protect the company's legitimate rights and property. Reporter Lee Dong-oh (canon35@mt.co.kr) [Read the full article] The Cunning Embezzlement of a Trusted Employee: Secure the 'Golden Time' Instead of an Emotional Feud (Go)

Siphoned Off 200 Million Won Over 2 Years and Misused Corporate Card···Strongly Pleaded "Business Facing Crisis of Survival"Court: "Long Period of Crime and Large Amount of Damage···Most of the Damage Not Recovered" A case has emerged in which a man who ran a company together with a business partner and siphoned off several hundred million won in company funds was sentenced to prison by the court.The Daegu District Court on the 12th of last month sentenced A, in his 40s, who had been indicted on charges of occupational embezzlement and occupational breach of trust, to one year in prison.A was accused of siphoning off, without authorization, about 200 million won in company funds that had been kept in the account of his business partner B, on some 50 occasions over two years starting in 2021. He was also accused of using the company's corporate card on some 200 occasions to pay about 9 million won for personal purposes during the same period.During the trial, B strongly urged the court to impose severe punishment, stating that A, who was in charge of accounting, had abused the trust between them to commit continuous embezzlement, and that as a result the company had been driven to a crisis of survival.In sentencing A to one year in prison, the Daegu District Court panel stated as its sentencing reasons, "The period of the defendant's crime is long and the amount of damage is large, so the culpability is very heavy," adding, "Nevertheless, we took into account the fact that most of the damage has not been recovered to date."Attorney Ahn Seung-jin of Daeryun LLC, who represented B in this trial, explained, "For occupational embezzlement and breach of trust to be established, there must be an intent of unlawful acquisition, whereby a person who keeps another's property or handles another's affairs breaches that duty to obtain private gain," adding, "It appears that the court, taking seriously the fact that A, as a business partner, abused deep trust to siphon off a large sum over a long period, and that the damage has not been recovered, imposed a prison sentence." [Read the full article] Said Let's Do Business Together, Then Siphoned Off Hundreds of Millions of Won in Company Funds: Business Partner Gets 'Prison Term' (Go)