[Exclusive] Eugene Group Chairman Yoo Kyung-sun acquitted in first trial over skipping YTN (Yonhap Television News) parliamentary audit; prosecutors appeal

[Financial News] Yoo Kyung-sun, chairman of Eugene Group, who was indicted for failing to appear as a witness at a National Assembly audit related to the privatization of YTN despite being selected to testify, was acquitted in his first trial. Prosecutors have appealed the ruling.
According to legal officials on the 28th, the Seoul Western District Prosecutors' Office filed an appeal on the 22nd against the first-trial acquittal of Yoo, who was indicted for violating the Act on Testimony, Appraisal, etc. before the National Assembly.
Earlier, on the 16th, the Seoul Western District Court's Criminal Division 8, presided over by Judge Lee Se-Chang, acquitted Yoo. Prosecutors had initially summarily indicted him and sought a 5 million won fine, but Yoo's legal team requested a formal trial. Prosecutors sought the same fine during the formal proceedings.
Yoo was indicted on charges of failing to appear without just cause after being selected as a witness for the Korea Communications Commission's parliamentary audit by the Science, ICT, Broadcasting, and Communications Committee of the National Assembly on October 15, 2024.
At the time, the committee selected Yoo as a witness to question him about the privatization of YTN and other matters. Yoo received the summons on October 2 of that year but did not attend the parliamentary audit, citing an overseas business trip.
The court acknowledged that Yoo had failed to appear, but determined that the overseas business trip had been scheduled before he was selected as a witness for the parliamentary audit.
According to the ruling, Eugene Group pursued projects to build a global news-reporting environment in order to carry out its capital increase and investment plans under the conditions attached to the Korea Communications Commission's approval of the change in YTN's largest shareholder following Eugene Group's acquisition of YTN.
As part of that effort, YTN pursued cooperation with overseas broadcasters. An Australian public broadcaster invited Yoo and others on September 20, 2024, before Yoo was selected as a witness for the parliamentary audit. The visit was scheduled for October 14 of that year. The main topics of discussion included a newsroom visit, an artificial intelligence (AI)-based media environment, and exchanges of content and personnel. As scheduled, Yoo left for Australia on October 13 and discussed cooperation plans with officials from local broadcasters.
The court acknowledged that Yoo had been lawfully served with the summons and had not appeared at the parliamentary audit. However, it found that it would have been difficult for him to urgently change or unilaterally cancel an overseas itinerary that had been arranged in advance.
The court also considered the fact that Yoo submitted a written explanation for his absence to the committee on October 10, before departing for Australia. It found no clear evidence that Yoo had known in advance he would be selected as a witness for the parliamentary audit or that he had planned the overseas trip to avoid appearing.
A prosecution official said, "We will challenge the first trial's acquittal in the appeals court."
[email protected] Choi Seung-han Reporter