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Ferrari Speeding Scandal: LS Electric CEO Slapped with $250 Fine!

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LS Electric Chairman Koo Ja-kyun
Fined for speeding, 300,000 won
Employees who made false statements were fined 5 million won

News1

Chairman Koo Ja-kyun of LS Electric, who was caught speeding in a sports car worth hundreds of millions of won in the middle of Seoul, has been summarily indicted.

Chairman Koo was caught by a speed camera driving a Ferrari at 167 km/h on Seoul’s Olympic Highway on November 9 last year.

The maximum speed limit for this section is 80 km/h (approximately 50 mph), and Chairman Koo, who exceeded 160 km/h (approximately 99 mph), twice the limit, has become subject to criminal punishment under the Road Traffic Act. Upon this, the police notified Chairman Koo, the owner of the Ferrari, of the police investigation. However, not Chairman Koo appeared at the police station but an employee, Mr. Kim.

At the time of his appearance, Mr. Kim testified to the police that he was the one driving the car. However, in a second investigation conducted this year, he recanted his statement, and Chairman Koo also testified in a police investigation that he was the one driving the car.

On this, the Criminal Division 2 of the Seoul Western District Prosecutors’ Office summarily indicted Chairman Koo on charges of violating the Road Traffic Act with a fine of 300,000 won (approximately $250)

on the 24th of last month, and the prosecution also requested the court for a summary order of a fine of 5 million won (approximately $4,200)

for Mr. Kim, an employee of the same company, suspected of aiding and abetting a criminal. Meanwhile, regarding Mr. Kim’s false statement, LS Electric explained that it was “originating from Mr. Kim’s excessive personal loyalty.”

By. Cho Yi Jae

tenbizt
content@viewusglobal.com

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