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KCC, a Korean chemical and auto parts manufacturer, is under mounting financial pressure after paying back investments the company received from a private equity fund for its ill-timed acquisition of U.S.-based silicone firm Momentive Performance Materials, according to industry officials, Thursday. ....
Chairman of KCC Chung Mong-jin sent to official trial for omitting the borrowed-name company . Photo=Newsis Chairman of KCC Chung Mong-jin sent to official trial for omitting the borrowed-name company ANI | Updated: Apr 01, 2021 09:31 IST Seoul [South Korea], April 1 (ANI/Global Economic): Chairman of KCCChung Mong-jin, who is accused of omitting the information of the borrowed-name company in reports to the Fair Trade Commission, has been sent to a formal trial. According to the legal community on Wednesday, Judge Eun-sang Yang, the senior judge at the Seoul Central District Court Criminal Division 18, accused Chung of violating the law on proprietary regulations and fair trade. Chairman Chung, who was charged with a summary order of 100 million won, was handed over to the trial. ....
By Baek Byung-yeul KCC Group founder Chung Sang-youngChung Sang-young, honorary chairman of KCC and the youngest brother of Hyundai Group founder Chung Ju-yung, died of chronic disease on Saturday, according to the building and industrial materials company. He was 84. The honorary chairman was hospitalized recently as his health has deteriorated and his family members gathered around him that day, KCC said. Chung is survived by his wife and three sons, including KCC Chairman Chung Mong-jin, KCC Glass Chairman Chung Mong-ik and KCC Engineering and Construction (E&C) Chairman Chung Mong-yeol. Born in 1936, Chung was the last surviving member of the late Hyundai Group founder s generation. Chung s passing marked the end of an era for the Hyundai Group family. ....