LG inheritance suit by 'three women' heads to appeal after first-instance loss against Chairman Koo Kwang-mo

[Financial News] The mother and two younger sisters of LG Group Chairman Koo Kwang-mo, who had sued him to restore their inheritance rights and lost in the first trial, have appealed the ruling.
According to the legal community on the 4th, the late former LG Group chairman Koo Bon-moo’s wife, Kim Young-sik, and their two daughters, Koo Yeon-kyung, head of the LG Welfare Foundation, and Koo Yeon-soo, filed a notice of appeal with the Seoul Western District Court the same day.
The three women had filed a lawsuit in February 2023 against Chairman Koo seeking to redivide the inherited assets. However, on the 12th of last month, Civil Division 11 of the Seoul Western District Court, presided over by Judge Koo Kwang-hyun, ruled against the plaintiffs.
The court found that the inheritance division agreement had been validly executed. It also determined that the plaintiffs had been briefed multiple times on the list of inherited assets and how they would be divided, and that they had taken part in related discussions.
The court noted that the initial draft of the agreement provided for Chairman Koo to inherit all shares of LG Corporation, but that it was revised at Kim’s request so that part of the stake would go to Koo Yeon-kyung and Koo Yeon-soo. On this basis, the court concluded that the plaintiffs had expressed their intent regarding the agreement.
After the former chairman’s death, of the 11.3% stake in LG Corporation, 8.8% was inherited by Chairman Koo, while 2.0% and 0.05% went to Koo Yeon-kyung and Koo Yeon-soo, respectively.
The appeal will be heard by the Seoul High Court.
425_sama@fnnews.com Reporter Choi Seung-han Reporter