'Former Samyang Foods Chairman Jeon In-jang Receives Suspended Prison Sentence in False Tax Invoice Case'

[Financial News] Jeon In-jang, former chairman of Samyang Foods, has received a suspended prison sentence after being indicted on charges of issuing false invoices and tax invoices worth approximately 53 billion won through paper companies.
The Second Division of the Supreme Court of Korea, presided over by Justice Oh Kyung-mi, dismissed Jeon’s appeal on the 10th.
As a result, the retrial court’s sentence of three years in prison, suspended for five years, and a fine of 19.1 billion won was finalized.
Jeon was indicted in December 2019 on charges of issuing false invoices and tax invoices worth approximately 53 billion won through two paper companies from 2010 to 2017. Samyang Foods and its affiliates, which were accused of participating in the issuance of the false invoices, were also indicted for violating the Punishment of Tax Offenses Act.
The lower court sentenced Jeon to three years in prison, suspended for five years, and fined him 19.1 billion won.
The appeals court acquitted him of some charges under the Punishment of Tax Offenses Act and reduced the sentence to 18 months in prison, suspended for three years, and a fine of 650 million won.
However, the Supreme Court of Korea ruled that the transactions the appeals court had deemed not guilty also constituted the issuance of false tax invoices and other offenses. It therefore overturned the ruling and remanded the case.
Following the Supreme Court’s decision, the retrial court after remand found Jeon guilty of the charges and again sentenced him to three years in prison, suspended for five years, and a fine of 19.1 billion won.
Jeon appealed to the Supreme Court again, but the sentence was finalized when the court dismissed his appeal.
 
[email protected] Choi Eun-sol Reporter