Koo Kwang-mo, LG Group Chairman. @ Yonhap News
Seoul/Jung Hee Lee (Newsimpact) - In a complex legal dispute, the three daughters of the former LG Chairman, Koo Bon-moo, and LG Group Chairman, Koo Kwang-mo, find themselves at odds over the division of their father's estate. The legal battle has unfolded in separate courtrooms, with conflicting claims from both sides.
According to sources from the legal community on the 17th of July, the Seoul Western District Court's Civil Conciliation Division 11, headed by Judge Park Tae-il, is scheduled to hold the first preparatory hearing for the inheritance recovery claim on the 18th at 10 a.m. The plaintiffs are the three daughters, namely Koo Bon-moo's wife, Mrs. Kim Young-sik, his daughter Koo Yeon-kyung, who serves as the head of the LG Welfare Foundation, and Koo Yeon-soo.
The daughters filed the lawsuit in February, arguing that they had reached an agreement on the division of the inheritance, including Koo Kwang-mo's succession to LG's leadership, based on the existence of a will when their father passed away in May 2018. However, they later discovered that no such will existed, prompting the need to redistribute the inheritance.
On the other side, Koo Kwang-mo's legal team refutes the claims, asserting that his succession to LG's leadership as Koo Bon-moo's son was both legally valid and aligned with LG's traditions. They argue that all inheritance procedures were properly completed in November 2018.
Both parties have enlisted prominent figures in the legal field to represent their interests. Representing the daughters are attorneys Im Sung-geun from the Haekwang Law Firm and Kang Il-won from the Kwon Chamber Law Firm, both highly regarded legal professionals with distinguished careers.
Attorney Im Sung-geun previously served as a judge in the Supreme Court Research and Training Institute's 17th class and held positions as the Chief and Senior Chief Judge of the Seoul Central District Court and a Chief Judge of the Seoul High Court.
On the other hand, Attorney Kang Il-won, a 14th class alumnus of the Supreme Court Research and Training Institute, has served as a Chief Judge of the Seoul Central District Court, Director of the Judicial Administration Division at the Supreme Court, and a Justice at the Constitutional Court.
Representing Koo Kwang-mo's side are attorneys Kim Neung-hwan from the Yulchon Law Firm and Kang Seok-hoon. Attorney Kim Neung-hwan has extensive experience, having previously served as a Chief Judge of the Seoul High Court, the Chief Justice of the Ulsan District Court, and a Justice of the Supreme Court. Kang Seok-hoon, a 19th class alumnus of the Supreme Court Research and Training Institute, has worked as a judge in the Seoul High Court and as a Justice Researcher at the Supreme Court.
In addition to this family feud, there is another ongoing lawsuit at the Seoul Administrative Court's Administrative Division 5, presided over by Judge Kim Soon-yeol. The case revolves around the imposition of inheritance taxes. The plaintiffs include the three daughters and the defendant is the head of the Yongsan Tax Office.
The plaintiffs argue that additional taxes were levied during the inheritance process, specifically on LG's unlisted subsidiary, LG CNS, accounting for 1.12% of the company. The lawsuit was filed in September of last year, and during the recent first hearing on the 13th, both parties disputed the evaluation of the unlisted shares, specifically in relation to the transaction price of the unlisted trading system (38 Communication) used by the defendant.
As the legal battle unfolds on multiple fronts, observers keenly anticipate how the courts will resolve this intricate and contentious inheritance dispute. The next hearing for the inheritance tax case is set for September 21st.
By Jung Hee Lee
저작권자 ⓒ 뉴스임팩트, 무단 전재 및 재배포 금지