Former HOKA distributor CEO indicted for allegedly assaulting rival company's CEO

[Financial News] A former CEO who led HOKA's exclusive distributor in South Korea has been indicted on charges including assaulting an official of a rival company. After conducting a supplementary investigation into the case referred by police, prosecutors added charges of property damage and false accusation before indicting him.
According to prosecutors on the 29th, the Seoul Eastern District Prosecutors' Office indicted Cho Sung-hwan, former CEO of JOYWORKS&Co., without detention on the 17th on charges of causing injury, property damage and false accusation.
Cho is accused of assaulting the CEO and an employee of a rival company last December at a former church building in Seongsu-dong, Seongdong-gu, Seoul.
After the incident, the victims filed a complaint against Cho at Seoul Seongdong Police Station on charges including causing injury. Cho also filed a counter-complaint against the victims but later withdrew it. Following its investigation, police referred Cho to prosecutors in February.
Prosecutors conducted a supplementary investigation from April to May and determined that additional charges applied. They reportedly treated Cho's act of blocking the rival company's CEO's vehicle with his own vehicle as property damage, while applying a false accusation charge to his counter-complaint claiming that the victims had assaulted him.
During the supplementary investigation, prosecutors also sought an arrest warrant for Cho, but the court rejected it on the grounds that "there was no concern that he would destroy evidence or flee." Prosecutors subsequently indicted Cho without detention.
Meanwhile, Cho stepped down as CEO of JOYWORKS&Co. in January, after the incident occurred. After the controversy emerged, HOKA's U.S. headquarters also terminated its exclusive distribution agreement with JOYWORKS&Co. in South Korea.
[email protected] Lee Dong-hyuk Reporter