"Fines and Penalties Piling Up"...Paik Jong-won Pays Hundreds of Thousands of Won Ahead of TV Comeback

[Financial News] It was belatedly revealed that The BORN Korea received administrative penalties and fines amounting to several million won.
According to the Data Analysis, Retrieval and Transfer System (DART) of the Financial Supervisory Service (FSS) on the 17th, The BORN Korea disclosed on the 14th that it had paid a total of 7 million won in fines and penalties imposed by various administrative and public agencies, including financial and tax authorities.
In February, The BORN Korea was fined 800,000 won by the Yesan County Office for violating Article 44, Paragraph 1 of the Liquefied Petroleum Gas (LPG) Safety Management and Business Act and Article 69 of its Enforcement Rules. In April, the Gangnam-gu Office imposed an additional fine of 400,000 won for violating Article 73 of the same law.
Furthermore, in July, the Seoul Regional Employment and Labor Office fined the company 4 million won for violating Article 18-2, Paragraph 1 of the Act on Gender Equality in Employment and Support for Work-Family Reconciliation. This provision stipulates that employers must grant paternity leave to employees when their spouse gives birth and treat it as paid leave, or else face penalties.
That same month, the Gangnam District Tax Office imposed a fine of 1.8 million won for violating Article 6 of the Punishment of Tax Offenses Act. This law concerns the manufacturing or sale of unlicensed alcoholic beverages, stating that those who produce or sell alcohol or mash without a license may face up to three years in prison or a fine of up to 30 million won.
Additionally, it was reported that the company complied with an order from the Yesan County Office to restore the Baekseok Factory to its original state after violations of Article 20 of the Building Act and Article 34 of the Farmland Act.
The BORN Korea stated in its disclosure that, regarding the fines and penalties imposed by administrative agencies, it is "making efforts to prevent recurrence by thoroughly reviewing relevant laws and conducting regular inspections."
Earlier this year, CEO Paik faced several controversies, including the price of Baek Ham, violations of food ingredient origin labeling, allegations of violating the Farmland Act, and insufficient LPG safety management.
Of the six complaints filed against CEO Paik, four—including the use of the Windmill Grill, agricultural chemical sprayer, uncertified press plate, and room-temperature delivery of O'Tel Ham—were closed at the pre-indictment stage with findings of no wrongdoing.
Regarding two other cases—the mislabeling of Deopjuk as wild-caught and the false origin labeling of Chewy Sweet Potato Bread—authorities concluded there was insufficient evidence to charge CEO Paik with violating the Food Labeling and Advertising Act. However, The BORN Korea and two staff members were found partially responsible and referred to the prosecution without detention.
Meanwhile, CEO Paik will return to television for the first time in six months with the premiere of MBC's variety show 'Chef of Antarctica' on the 17th. The program was originally scheduled to air in April but was postponed due to the early presidential election and controversies involving Paik.


moon@fnnews.com Moon Young-jin Reporter