수출입은행, 사우디 전력 공사에 12억 달러 지원…한국 기업 기회

After 12 years, the “Eungseong Brothers’ Tragedy” has faced a court hearing. The former chairman of the Eungseong Group, Jecheonjun Eungseong, who had clashed with his brother, Jaecheon Eungseong, testified in court that he sought retribution against his sibling. During a hearing on the 21st, Jaecheon Eungseong appeared as a witness in the case against his former chairman, who had accused him of extortion and misappropriation.

This was the first time the two brothers had faced each other in court since the 2014 business dispute.

The “Brothers’ Tragedy” began when Jaecheon Eungseong’s predecessor, Jaecheon Eungseong, filed an accusation against his brother and key executives in July 2014, alleging fraud and improper influence. Tensions escalated, leading Jaecheon Eungseong to challenge his predecessor in 2017 for forcing a press release claiming the predecessor was pivotal to the company’s growth.

As of 2024, the complex legal dispute involving the Eungseong brothers remains unresolved, with Jaecheon Eungseong demanding retribution against his sibling. In his testimony, he expressed a desire for the family to move on and emphasized his father’s wishes for Jaecheon Eungseong to reflect on his actions.

Jaecheon Eungseong also criticized the plaintiffs’ approach to the company’s debt recovery, calling it “limited remedy syndrome.” He vehemently disputed his former chairman’s claims of significant contributions to the company’s development, stating that the published records are “not an accurate reflection.” He further rejected the notion that his resignation caused any loss to the company, insisting that they could not have complied with his demands without coercion.

Meanwhile, Jaecheon Eungseong’s own 16 billion won embezzlement case, initiated by his predecessor, was recently resolved with a 2-year jail sentence suspended for 3 years.